SHIJIAZHUANG, March 17 (Xinhua) -- Chinese carmaker Great Wall Motor has lowered its 2020 sales target by about 8 percent due to the fallout of the novel coronavirus outbreak.
The leading sport utility vehicle (SUV) and pickup maker cut its annual sales target to 1.02 million units from 1.11 million units. Meanwhile, it lowered its net profit target to 4.05 billion yuan (578 million U.S. dollars) from 4.7 billion yuan.
The coronavirus outbreak has hit hard car sales in China and also led to delays in resumption of production at car plants in the wake of the Lunar New Year holiday.
Sales of Great Wall Motor plunged 85.5 percent year on year to 10,023 vehicles in February, driving its sales in the January-February period to fall by half to 90,284 units.
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