Major state automaker China Changan Automobile Group aims to sell 2.4 million vehicles this year, up slightly from a record 2.38 million units in 2010, the China Securities Journal reported on Thursday.
The moderate growth target is in line with an expected slowdown in the world's largest auto market after the government withdrew most of its policy incentives at the beginning of the year.
Beijing issued a massive package of stimulus measures at the height of the global financial crisis in 2009, including tax incentives for cars with engine sizes of 1.6 litres or smaller, and rebates for farmers who traded in old vehicles for fuel-efficient models.
The stimulus package was scaled back in 2010 and scrapped this year, a move that would apply the brakes on the market after rapid expansion over the past two years.
Smaller rival Chery Automobile aims to sell 17.3 percent more vehicles this year, marking a slowdown from a 36.3 percent gain in 2010.
Sanguine about the long-term growth potential of China's auto market, Changan, partners with Ford Motor (F.N) and PSA Peugeot-Citroen (PEUP.PA), has set a target of selling 6 million vehicles annually by 2020.
To help achieve that goal, it has signed a slew of agreements with local governments in the past years to set up production facilities in Beijing, the eastern provinces of Jiangsu and Anhui as well as in Yunnan in the south.