Great Wall Motor targets to sell 80,000 units abroad in 2008

Great Wall Motor Co<2333>, China's largest producer of pick-up trucks, expects overseas sales to hit 80,000 vehicles this year as it eyes the European and North American markets.

Last year, the auto maker sold 51,394 units abroad and it plans to raise the figure by 55.7% as of 2008, said company chairman Wei Jianjun.

Sales will remain robust in overseas market despite the global economic slowdown as Great Wall vehicles are sold at a competitive price, about 30% to 50% cheaper than foreign models, Wei said, adding that it is engaged in improving product quality rather than merely seeking high sales.

Currently, Great Wall's major overseas markets include the Middle East, Russia, Africa and Southeast Asia. It expects to add Europe and North America to the list in five years.

Meanwhile, the Hong Kong-listed company also plans to launch A-share listing in Shanghai in May to fund its expansion.