Geely Automobile Holdings, which fell short of its sales goal last year, said it would raise the target 37 per cent for the next 12 months on optimism over the mainland car market and expectations of increased exports.
China's largest privately owned carmaker plans to sell 240,000 cars this year after sales last year of 175,635 units, 2 per cent below its target of 180,000 units.
Demand for new models such as the Kingkong and the mid-range Vision amid a growing economy has encouraged the company to raise its sales outlook. It is also set to open new assembly lines overseas.
Geely said during the Beijing car show in November that it planned to start making two mid-range models priced at 100,000 yuan, or double its usual product prices, by this year to boost profitability.
The company sold 20,469 cars last month, up 14.4 per cent from a year earlier.
The management was satisfied with the performance as it set a record for monthly sales, spokesperson Lawrence Ang said yesterday.
Mr Ang said last month the company needed to sell 25,000 more cars to attain the full-year target.