14 Jan '11, 12pm

Chery aims to sell 17% more vehicles in 2011: PHOTO: REUTERS BEIJING - CHINA'S Chery Automobile Co said on Frida...

Employees of the Chinese carmaker Chery Automobile Co. conduct final checks at the end of the assembly line. -- PHOTO: REUTERS BEIJING - CHINA'S Chery Automobile Co said on Friday it aims to sell 800,000 vehicles this year, up 17.3 per cent from a year earlier. That marks a slowdown compared with 36.3 per cent growth in 2010, thanks in part to Beijing's policy incentives, but still outpaces a consensus forecast of 10-15 per cent growth for the overall market. Chery is China's largest independent carmaker. It issued the forecast in a statement. Beijing issued a massive package of stimulus measures at the height of the global financial crisis in 2009, including tax incentives for cars with engine sizes of 1.6 litres or smaller, and rebates for farmers who traded in old vehicles for fuel-efficient models. The stimulus package was scaled back in 2010 and scrapped at the beginn...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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