In 2008, the Chinese automotive market was expected to continue its growth trajectory. As manufacturers unveiled their New Year plans, it became clear that they were optimistic about the future of the industry. Guangzhou Toyota, for instance, set a target of producing and selling 210,000 vehicles in 2008. Similarly, Guangzhou Honda announced its goal of reaching 340,000 units in production and sales. Meanwhile, Wuhan’s automotive sector was also preparing for a major expansion, with total production capacity projected to exceed one million cars.
At the end of 2007, Guangzhou Toyota held a business plan conference in Shenzhen, where it reviewed its performance for the year and outlined its 2008 goals. The company had previously raised its targets twice during 2007, ultimately achieving an impressive 170,000 units in production and sales. For 2008, the focus remained on the Camry, which continued to be a top seller, with monthly sales averaging around 14,000 units. In September alone, the model reached a record of 16,723 units sold in a single month. To meet this demand, Guangzhou Toyota implemented strict quality control and streamlined its supply chain, ensuring timely delivery of vehicles to customers.
Yaris, another key model for Guangzhou Toyota, was scheduled to launch mid-year, contributing to the company's 2008 target. Deputy General Manager Yuan Zhongrong emphasized that the 210,000-unit goal included 175,000 Camrys and 35,000 Yaris units. The introduction of Yaris was part of Toyota’s global strategy to cater to the growing trend of compact cars. Additionally, Guangzhou Toyota planned to expand its dealership network, aiming to have over 180 channels by the end of 2008.
Guangzhou Honda also made headlines with its ambitious 2008 target of 340,000 units. At a press conference held on December 27, 2007, the company shared its 2007 results and outlined its 2008 strategy. Despite not launching a new model in 2007, Guangzhou Honda achieved strong sales across its existing lineup, with models like Odyssey, SDI, and Fit leading in their respective segments. The Accord, even at the end of its product cycle, maintained an average monthly sale of over 10,000 units.
For 2008, Guangzhou Honda aimed to sell 178,000 Accords, 42,000 Odysseys, and 60,000 Fits and SDIs. The company also planned to introduce a new Fit model and reveal its brand identity strategy. A concept car under its own brand was set to debut at the Beijing Auto Show, signaling a shift toward independent branding.
Wuhan’s automotive industry was also gearing up for a significant leap forward. With production capacity expected to rise from 330,000 to over one million units in 2008, the Wuhan Economic and Technological Development Zone was positioning itself as a major hub for car manufacturing. Key players such as Dongfeng Group, Shenlong, and Dongfeng Honda were all expanding their operations in the area.
Shenlong Motor Company, for example, completed the second phase of its first plant, increasing annual capacity to 300,000 units. Plans were also underway for a second plant, which would add another 150,000 units annually. Dongfeng Honda was expanding its Wuhan factory, aiming for 120,000 units per year. When combined with other local manufacturers, the total capacity was expected to reach 1.02 million vehicles in 2008.
Looking ahead, the development of a third Shenlong plant and the Dongfeng independent brand project were already in progress. By 2015, the Wuhan Development Zone was expected to surpass a production capacity of two million vehicles, solidifying its role as a key player in China’s automotive landscape.
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