SAIC& s own brand car sales to surge 78% this year Gasgoo

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SAIC s own brand car sales to 78% this year

Shanghai 23 ( ) SAIC Motor (600104.SH), China s largest car by sales volume, said own vehicle sales will 160,000 units this up 78% from a year earlier, reported Thursday, citing a who asked not to be named.

Sales of the company s own brand for 2010 will almost last year s 90,000 benefiting from major in production and sales scale and the overall profitability, the same said. Whether SAIC s brands have swung into profit will be at length in the company s annual the person added.

SAIC currently has two independent Roewe and MG (Morris Garages), are positioned as middle-to-high end brands and are cost effective.

As a new entrant to the market, this is already a result, CITIC Securities Dr. Xu Ying told reporters on the saying SAIC s self-branded cover A0, A and B segments and an own-brand model will roll off the line at the end of this year a price tag between 80,000 and 260,000 yuan ($12,000-$39,100).

In addition, Dr. Xu said FAW Car Co. Ltd. will sell about 250,000 Besturn and Mazda this year.

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While of China s homegrown automakers Dongfeng Motor (600006.SH), Changan Auto (000625.SZ), Group, BYD, etc. more than 20, will for 30% of the country s total auto

The above 20 automakers sold million vehicles in the first this year, up 63.8% on year. That is a lot higher the industry s average growth of 50.7%. Meanwhile, the market of China s own brand passenger reached 34%, rising 3% the 31% during the same period year.

SAIC spelled out its own brand in 2006, and had invested 2.9 billion in building a production base in Lin near Shanghai, to manufacture models, in 2008. It now has three bases for own brand vehicles aims to produce 300,000 units of year.

This post is “ Automotive News of China ” and has no so far.

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