Reuters reported that Great Wall Motor Co Ltd, China No 1 maker of utility vehicles and pick up trucks may not be able to achieve its sales target for 2011 amid slowing growth in China, the world largest auto market.

Mr Wei Jian Jun Chairman of Great Wall Motor Co said the company which competes with rivals such as SAIC Motor and Dongfeng Motor had no plan to cut selling prices in a bid to maintain profitability.

Great Wall Motor which makes sports picks up trucks and sedans under its own brand name in China had set its auto sales target at 500,000 units for this year.

Mr Wei also said the company aimed to achieve double digit growth in earnings in the second half of 2011. He said that "We aim to maintain a similar profit margin for the second half as compared to the first half."

Mr Wei said "Sales for September, October, November and December are seen stronger as the second half is normally a peak season (for car sales). He said that Great Wall Motor would stick to its plan for an initial public offering in Shanghai.”

Mr Wei said "The A-share plan is proceeding in accordance to plan.

Great Wall Motor which is a latecomer to the competitive sedan market is braving the mainland stock market at a time when investors grow more concerned over an economic slowdown.

(Sourced from Reuters)