Shanghai GM, a joint venture between General Motors Company and SAIC Motor is targeting to sell about 1.45 million vehicles in 2013.
The joint venture company, which sells Chevrolet, Buick, Cadillac, and Opel brand cars in China, is targeting to sell about 1.38 million vehicles by the end of 2012.
During the first ten months of 2012, the company had already sold 1.14 million vehicles nearing to its target.
The company has suffered sales slump during the year, as its key models the Buick Regal and Lacrosse are old models.
In addition, 'poor market condition' and new policy of restricting fresh vehicle registration in Guangzhou also worked against company's prospect, the company said.
Shanghai GM deputy general manager Cai Bin was quoted by China Business News as saying,"Having to complete the 1.38 million vehicle [sales] target was especially difficult for our sales staff."
Shanghai GM however will rely on the Buick Encore SUV and Cadillac XTS along with revamped Buick Lacrosse and Regal to reach the target.
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