China Watch : SAIC Motor’s estimated net profit doubles in 2010

Automotive News China, 10th February, 2011

SHANGHAI – SAIC Motor Corp. estimates its 2010 net profit doubled from 6.6 billion yuan ($997 million), the Shanghai Daily reported, citing a company statement to the Shanghai Stock Exchange.

Last year, SAIC Motor and its various joint ventures sold 3.4 million units in China, enough for a 20 percent share of the light-vehicle market.

SAIC Motor maintains joint ventures with Volkswagen AG and General Motors Co.

This year, China’s largest domestic automaker is launching sales of its MG brand in some European markets, and has formed a joint venture with General Motors to sell commercial vehicles in India.

[Source: Automotive News China]

Clive Goldthorp

About the Author:

Clive claims that his interest in the BMC>MG story dates back to his childhood in the 1960s when the family’s garage premises were leased to a tenant with an Austin agency. However, back in the 1920s and 1930s, his grandmother was one of the country’s first female Garage Proprietors so cars probably run in his genes! Admits to affairs with Alfa Romeos, but has more recently owned an 06/06 MG TF 135 and then a 15/64 MG3 Style… Clive, who was AROnline’s News Editor for nearly four years, stood down from that role in order to devote more time to various Motor Racing projects but still contributes articles on as regular basis as his other commitments permit.

4 Comments on "China Watch : SAIC Motor’s estimated net profit doubles in 2010"

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  1. Ianto says:

    This seems strangely at odds with SAIC Motor’s relaunch of MG in the UK. I suspect that the Longbridge operation is mere tokenism – unless, of course, there is ‘genuine’ evidence to the contrary.

  2. Ianto says:

    @Andrew Elphick
    Indeed, something’s not quite right here.

  3. Paul Taylor Paul T says:

    @Andrew Elphick
    I would guess that there might possibly be an announcement of a merger/demerger which may have an exponential effect on the share price.

    Well, either that or something less palatable…

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