Guangzhou Automobile Group Co Ltd, the Chinese partner of Honda Motor and Toyota Motor, expects to see 15% growth in car sales this year, Zeng Qinghong, General Manager of the company, said on Monday (March 8).
Zeng disclosed that the company's car sales grew by 14.7% last year to around 600,000 units.
He also said that Toyota's recall has had little impact on orders at the joint venture owned by Guangzhou Automobile and Toyota.
Guangzhou Automobile intends to follow its acquisition strategy and is in talks with potential domestic and overseas partners, said Zeng, but he declined to disclose details.
Last year, Guangzhou Automobile bought a 29% stake in Hunan Changfeng Motor Co<600991> for nearly RMB1.2 billion, becoming the largest shareholder of the SUV maker.
