The 21st Century Business Herald, a Chinese newspaper, said automaker SAIC Motor Corp. seeks to more than triple the annual sales of its proprietary MG and Roewe models to 700,000 units by 2015.
The newspaper added that SAIC President Chen Hong revealed at a recent meeting with its dealers that the target is set at 100,000 units more than its previous goal. In 2011, it aims to sell 230,000 of Roewe and MG cars, up 43.8 percent from the previous year, the newspaper said, citing Chen Zhixin, head of SAIC's passenger car unit.
SAIC became the owner of MG Rover's 10,000-unit Longbridge plant in Birmingham, England, after a late 2007 merger with smaller rival, Nanjing Automobile Group.
SAIC introduced several new models subsequently, including the Roewe 550, Roewe 750 MG 7 and MG3, becoming the only Chinese brand to have gained some inroads into China's lucrative medium-to-higher end segment that is dominated by foreign auto makers.
Shanghai-based SAIC has plans to unveil three to four new passenger car models each year by 2015, including a Roewe sport utility vehicle and an all-new MG3 sedan in 2011, the newspaper said.
SAIC, in 2010, signed an MOU with the municipal government of Nanjing to invest CNY10 billion in its production base, increasing its capacity in the eastern Chinese city to 1 million units. SAIC also operates carmaking ventures with General Motors Co. and Volkswagen in China. [via reuters]