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Great Wall Motor targets 20% sales growth in 2012

Mar. 19, 2012 (China Knowledge) - Great Wall Motor Co Ltd<601633><2333>, one of the leading mainland makers of pick-up trucks in China, aims to sell 550,000 vehicles this year, nearly 20% more than the 460,000 units sold last year, said Chairman Wei Jianjun, sources reported.

Wei said that he is confident of achieving the target this year as the company will launch five new models in 2012, including two SUVs.

The company's overseas sales are expected to increase to 100,000 units this year from 80,000 units in 2011.

Wei added that the automaker plans to allocate RMB 4 billion for capital expenditure this year, which will be mainly used for construction of component division and R&D centers.

In 2014, Great Wall Motor plans to launch a new energy vehicle.

The company has reported a net profit of RMB 3.43 billion for last year, 26.82% more than in 2010. Operating revenue jumped 30.9% year on year to RMB 30.09 billion.

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