Shanghai General Motors Co Ltd is set to raise its 2013 sales target in the first quarter, China Business Times reported Sunday, citing internal sources.

General Manager Ye Yongming previously announced in an interview at the Guangzhou Auto Show in 2012 that Shanghai GM had set its 2013 sales target at 1.45 million units.

Shanghai GM's annual sales of passenger vehicles has held first place in the country for three consecutive years.

The company's 2012 sales set a new record for the industry. The 2012 sales of Shanghai GM's three major brands, Buick, Chevrolet and Cadillac, reached more than 1.39 million units, an increase of 13.1 percent from a year earlier, according to the 2012 Sales Data issued by the company on Jan 7.