Summary: 2012 sales goal completion rates for major manufacturers in China

At the beginning of this year, manufacturers from across the industry announced their new yearly sales goals, most of which were rather high. With half of the year gone by, the majority of manufacturers still have yet to meet 50 percent of those targets.

According to statistics released by Gasgoo.com (Chinese), of China's 24 major manufacturers, only three managed to achieve 50 percent of their 2012 sales goals by the end of June: Dongfeng Motor, Shanghai General Motors and FAW Volkswagen. Nine manufacturers had fulfilled 45 percent to 50 percent of their goals over the six month period, while five more fell between the 40 percent and 45 percent marks.

The country's top three manufacturers, Shanghai GM and the two VW-affiliated joint ventures, all aimed to achieve strong growth in 2012. FAW-VW's sales goal of 1.2 million vehicles is the lowest in actual numbers, but is still 16 percent higher than the amount it sold the previous year. By comparison, Shanghai GM and Shanghai VW's sales goals are approximately six percent and ten percent than last year's actual sales amounts. The three manufacturers' actual performances in the first half of the year were all very strong, with their target completion rates between 49.7 percent and 51.7 percent.

The other joint ventures all reported sales goal completion rates of less than 50 percent. The strongest among them, FAW Toyota, managed to complete 48 percent of its 600,000 total sales goal. Beijing Hyundai, Dongfeng Yueda Kia and Dongfeng Nissan have each fulfilled over 45 percent of their targets. Among them, Dongfeng Nissan, which is aiming to reach the one million sales mark this year, sold a total of 454,800 vehicles, equivalent to 45.5 percent of its yearly target.

Dongfeng Honda had originally announced a sales goal of 320,000 vehicles, but increased that figure to 340,000 vehicles last month. Dongfeng Honda Vice President Liu Hong previously stated his desire to see the joint venture's sales grow over 30 percent this year. The JV's decision to increase its target is due in part to the number of new models to be introduced this year and the completion of its second production site last month. Dongfeng Honda sold 150,700 vehicles in the first six months of the year, equivalent to 44.3 percent of the new goal.

Changan Ford Mazda, FAW Mazda and Beijing Benz all performed relatively poorly. Among them, Beijing Benz, which halted production in January and February, managed to complete only 29.4 percent of its goal.

As far as own brand manufacturers go, Dongfeng performed exceptionally well, selling 28,700 vehicles and completing over 52 percent of its goal. Geely and Great Wall have fulfilled 48.5 percent and 46.6 percent of their respective goals. BYD and Chery performed much weaker, with the latter selling only 265,500 vehicles, just under 38 percent of its full year target.