China Watch : SAIC Motor doubled its profit in 2010

Automotive News China, 5 April 2011

SHANGHAI – SAIC Motor Co. says its profit in 2010 surged 125 percent year-on-year to 13.7 billion yuan ($2.1 billion) as the company enjoyed strong vehicle sales growth.

SAIC Motor and its joint ventures produced 3.4 million units last year, up 31 percent from a year earlier, according to the state-owned automaker’s financial report.

SAIC’s joint venture with General Motors Co. produced 1.0 million vehicles while SAIC-GM-Wuling Automobile Co. – China’s largest minivan maker – produced 1.2 million vehicles. SAIC’s joint venture with Volkswagen AG assembled 1.0 million units.

Meanwhile, SAIC’s own-brand sales of the Roewe and MG cars reached 160,000 units and SAIC Motor’s commercial vehicle unit sold 154,000 trucks and buses.

In the financial report, SAIC Motor predicts combined sales of its own and the three joint ventures will increase 12 percent to top 4 million units in 2011.

[Source: Automotive News China]

Clive Goldthorp

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.

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