Sinotruk expects turnover up 30% in 2008

Chinese heavy-duty truck maker Sinotruk expects its 2008 turnover to rise 30 percent after an estimated 50 percent jump in the first four months of the year, the official Shanghai Securities News quoted a senior executive as saying.

The newspaper on Saturday also quoted Sinotruk Executive Director Tong Jingen as saying that the company would raise its product prices if steel prices continued climbing.

Tong said raw materials prices had risen more than 10 percent since March and were expected to rise further.

Truck price increases would not be likely to undermine sales; however, given continued strength in China's economic development, Tong was quoted as saying.

He added that the company was interested in alliances with foreign companies in assembly projects, although there were currently no concrete plans.

The company, parent of Sinotruk (Hong Kong) Ltd, produced 10,520 trucks in April, while sales volume was 9,486 units. Production in the first four months was 34,020 units, with sales volume of 28,030.

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