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CHINA'S GEELY TARGETS 400,000 AUTOMOBILE SALES IN 2010

Posted on: Thu, 26 Nov 2009 00:55:00 EST

Symbols: GELYY

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BEIJING, Nov 26, 2009 (AsiaPulse via COMTEX) --
GELYY | Quote | Chart | News | PowerRating -- Chinese carmaker Geely
Automobile Holdings (SEHK:0175) has raised its 2010 auto sales
target to 400,000 vehicles, 30 per cent more than this year's,
said Liu Jinliang, vice president of Geely.

Liu said that the Geely is expected to realize a sales
volume of 300,000 units this year.

According to Liu, Geely will adopt innovative marketing so
as to acquire a larger market share.

Driven by the country's stimulus policies for auto
consumption, Liu predicted that China's auto industry would
grow 15 per cent next year.

Regarding the company's strategic development, Liu said that
Geely would integrate its brands into three major ones in the
next year or two.

In October, Geely was confirmed as the preferred bidder for
the sale of the Volvo Car Corporation.

(XIC)maz

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