Dongfeng Motor: Aiming for sales of 5.6 Million Units and 18% market share by 2020
Focus on brand building and new energy vehicles, developing overseas businesses
Dongfeng Motor Corporation Group is China’s second largest OEM. It is engaged in producing and distributing passenger and commercial vehicles. The company known today as Dongfeng Motor was established as Second Automobile Works in 1969, and manufactured commercial vehicles. Currently, the company not only manufactures various passenger and commercial vehicles, but also manufactures engines and auto parts, and even handles logistics as well.
Dongfeng Motor’s sales have steadily increased, rising to 3.46 million units in 2013, 3.74 million units in 2014, and approximately 3.82 million units in 2015; and its market share in the Chinese automobile market in 2015 was 15.5%. From January to May 2016, the Group has recorded a year-over-year increase of approximately 2.7%, with 1.58 million units, but its market share has declined slightly to 14.7%
Moving forward, Dongfeng Motor aims to sell 5.6 million units from 2016 to 2020, and to attain an 18% share of the Chinese market. In order to achieve this goal, it will strive to sell 3 million units from its own brands, accelerate its new energy vehicle strategy, and develop overseas markets to increase its international presence.