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(From China Daily)
Byline: GONG ZHENGZHENG
Major car producers in China are setting new targets for sales this year as demand for domestically made vehicles smashes expectations.
Shanghai Volkswagen - a joint venture between Shanghai Automotive Industry Corp (SAIC) and Germany's Volkswagen Group - said it had revised its sales forecast from 240,000 to 270,000 units this year.
And sources close to Shanghai GM, run by SAIC and US auto giant General Motors, said the company expects to sell 100,000 cars this year, up from its previous target of 80,000 units.
"This confidence among manufacturers has been fired by better-than-expected …