WUHAN - Dongfeng Motor Corporation, China's second largest
automaker, expects to more than double its overseas sales in the next
three years, as it seeks to expand its presence in overseas market.
Dongfeng Motor aims to seize larger market share in the emerging
economies and enter the United States and European markets, said Li
Junzhi, head of the corporation's international department.
Dongfeng Motor plans to sell 150,000 vehicles overseas in 2020, up from 65,000 last year, according to Li.
Overseas sales increased 55.3 percent year-on-year in 2017, thanks to
major breakthroughs in Iran, Russia, and Southeast Asia, he said.
Last year 30,000 Dongfeng vehicles, including heavy-duty trucks and
compact cars, were sold in Iran, the largest auto market in the Middle
East, where they were made from "knock-down" kits shipped from China. In
Indonesia, Dongfeng Motor and its local partner set up a plant capable
of producing 50,000 mini trucks a year, a move to compete with Japanese
makers that dominate the Southeast Asian markets.
Dongfeng Motor became the first Chinese automaker to have an
exclusive dealership in Russia by opening a flagship store in Moscow in
July last year.
The company's Chairman Zhu Yanfeng said developing overseas business
is an important strategy for the automaker, which aims to become a
In the next three years, Dongfeng Motor plans to build another 100
sales and service outlets overseas, mostly in countries along the Belt
It will also further cooperate with its global partners including
Swedish truck maker AB Volvo and French auto giant Groupe PSA in
manufacturing and marketing.
Dongfeng Motor, headquartered in central Chinese city of Wuhan, sold
4.12 million vehicles last year, down 3.6 percent from the previous
year. China's major automakers are looking to overseas markets as growth
in domestic auto sales has slowed.