SAIC auto sales down 8.48% in January
Published on February 8, 2012 by Tycho de Feijter
Top Chinese automaker SAIC Motor Corp reported its first monthly sales decline in six months in January as automakers and dealerships closed shop for the week-long Lunar New Year holiday.
SAIC, which makes cars in partnership with General Motors and Volkswagen, delivered 380,305 vehicles in the month, down 8.48 percent from a year earlier, it said in a filing with the Shanghai stock exchange on Tuesday.
Its tie-up with General Motors saw its sales down 4.02 percent from the year-ago period to 127,443, while sales at its venture with Volkswagen were down 2.65 percent to 110,008. Sales of SAIC’s own-brand cars, including Roewe and MG sedans, came to 11,001 in January, down 45.34 percent, it said.
Last month, SAIC forecast a rise of more than 40 percent in 2011 net income on solid demand for German and American marques made at its Shanghai ventures.