China's Chery seeks 26 pct car sales growth in '08

SHANGHAI, Jan 16 (Reuters) - Chery Automobile, China's fourth largest car maker, aims to sell 26 percent more vehicles in 2008 as it steps up exports and launches more new models.

Chery, which saw its vehicle sales grow 24.1 percent to 381,000 units in 2007, has set a target to move 480,000 vehicles this year, it said in a statement.

Vehicle exports are expected to reach 180,000 units for this year, after soaring 132 percent year on year to 119,800 units in 2007, said the company, which sells cars to more than 50 countries, including Russia, the Middle East and South America.

Chery vice president Zhou Biren said in September that his company aimed to generate 40 percent of its total sales from overseas by 2010.

Exports made up 31 percent of its total sales in 2007.

In July, the firm finalised a deal with Chrysler LLC to make compact cars under the Chrysler badge for sale in the United States and elsewhere. It also has an initial agreement with Fiat (FIA.MI) to set up a car manufacturing venture in China, scheduled to start production in 2009.

Chery, best known for its compact car QQ, would introduce 3 new models this year, the statement said. (Reporting by Fang Yan, editing by Charlie Zhu)