Jiangling Motors eyes $1.5b sales revenue in '09

Jiangling Motors, a Chinese commercial vehicle venture of Ford Motor, aims to achieve more than 10 billion yuan ($1.47 billion) in this year's sales revenue, Gasgoo.com said today, citing the company's new growth plan.

Jiangling Motors sold 7,526 vehicles in February 2009, up 25% from a year earlier and up 76% month on month. The company said that its new product development, cost control and JPS lean production system have contributed to the sales growth. Its Transit light bus, Kaiyun light truck and Baodian pickup truck have been well received in the market.

The company has invested 315 million yuan in the second phase of the JX4D24 engine project, and is planning to invest 725 million yuan in the independent development of the N800 light commercial vehicle project.

As a commercial vehicle maker in which Ford owns 30%, Jiangling Motors is expected to benefit from the Chinese government's recently issued subsidy plan for farmers' purchases of light trucks and minivans. The carmaker will be exploring the huge potential in the country's rural market.

According to its latest annual development plan, Jiangling Motors aims to achieve sales revenue of more than 10 billion yuan in 2009, mainly by expanding the sales network and launching new products. The company sold 95,171 vehicles last year, up from 95,059 in 2007.

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