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11. September 2012

CN - SAIC Motor auto sales slow to 9pct in Aug

China Knowledge reported that SAIC Motor Corp Ltd, China No 1 carmaker has announced that its auto sales rose 9.2% YoY to 358,187 units in August this year slowing from an 18% growth in July.

In the first eight months, the group's auto sales reached 2.91 million units, up 12.88% YoY.

Shanghai Volkswagen Automotive Co Ltd, a 50-50 joint venture set up with Volkswagen AG, sold 836,074 cars from January to August up by 11.59% YoY.

Another JV, Shanghai General Motors Co Ltd which SAIC Motor established with General Motors sold 836,074 cars in the eight-month period increasing 10.49% from the same period of last year.

SAIC-GM-Wuling Automobile Corp a joint venture of General Motors, Shanghai Automotive Industry Corp and Liuzhou Wuling Motors Co saw its sales grow 15.15% from the same period of 2011 to 836,074 units.

The Chinese auto giant also said that its auto output rose 14.41% YoY to 2.90 million units in the period.



Source - China Knowledge

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