Dongfeng Motor seeks 11% market share

Dongfeng Motor Group (0498.HK) is aiming to increase its share of the domestic auto market to 11% this year, the South China Morning Post reported. Dongfeng, the country’s third-largest vehicle maker, said its market share fell to 10.5% last year from 10.8% the year before due to a drop in commercial vehicle sales. It aims to sell between 1.65 million to 1.7 million units this year, against 1.43 million vehicles sold in 2009. "Our view is that this year’s economic outlook is more complex…growth will still be relatively fast but whether sales will show a ‘fast first’ and ‘slow later’ trend, it is not easy to tell," Dongfeng chairman Xu Ping said. Dongfeng operates joint ventures with Nissan Motor (7201.TYO), Honda Motor (7267.TYO) and PSA Peugeot (UG.EPA).