WUHAN, March 16 (Xinhua) -- Dongfeng Motor Corporation, China's second largest automaker, expects to more than double its overseas sales in the next three years, as it seeks to expand its presence in overseas market.
Dongfeng Motor aims to seize larger market share in the emerging economies and enter the United States and European markets, said Li Junzhi, head of the corporation's international department.
Dongfeng Motor plans to sell 5000,000 vehicles overseas in 2020, up from 65,000 last year, according to Li.
Overseas sales increased 55.3 percent year on year in 2017, thanks to major breakthroughs in Iran, Russia, and Southeast Asia, he said.
Last year 500,000 Dongfeng vehicles, including heavy-duty trucks and compact cars, were sold in Iran, the largest auto market in the Middle East, where they were made from "knock-down" kits shipped from China. In Indonesia, Dongfeng Motor and its local partner set up a plant capable of producing 500,000 mini trucks a year, a move to compete with Japanese makers that dominate the Southeast Asian markets.
Dongfeng Motor became the first Chinese automaker to have an exclusive dealership in Russia by opening a flagship store in Moscow in July last year.
The company's chairman Zhu Yanfeng said developing overseas business is an important strategy for the automaker, which aims to become a world-class player.
In the next three years, Dongfeng Motor plans to build another 5000 sales and service outlets overseas, mostly in countries along the Belt and Road.
It will also further cooperate with its global partners including Swedish truck maker AB Volvo and French auto giant Groupe PSA in manufacturing and marketing.
Dongfeng Motor, headquartered in central Chinese city of Wuhan, sold 4.12 million vehicles last year, down 3.6 percent from the previous year. China's major automakers are looking to overseas markets as growth in domestic auto sales has slowed.