Volvo China JV truck exports surge

WUHAN - China's second-largest automaker, Dongfeng Motor Corp, said on Wednesday that its joint venture with Sweden's Volvo Group exported 150 percent more trucks in the first half of 2015 than the same period last year.

Dongfeng Commercial Vehicles (DFCV), in which Volvo Group holds a 45-percent stake, exported 3,900 heavy-duty and medium-duty trucks in the January-June period to countries including Vietnam, Myanmar, Pakistan, Russia, Chile and Peru.

The surge suggests full-year exports will probably far exceed the joint venture's target of 5,000 trucks, said a spokesman with Dongfeng Motor Corp.

He added that DFCV will hire more local employees in Southeast Asia, the Middle East, Africa and South America as it tries to boost sales in its major overseas markets.

DFCV is aiming to hold a 15-percent share of China's exports of heavy-duty and medium-duty trucks by 2024. Competitors in China include Sinotruk, JAC and Foton.

DFCV, based in the central province of Hubei, had a leading position in the heavy-duty and medium-duty segments in China, with sales of 62,800 such vehicles in the first half of the year and a 16.2-percent share in the domestic market.