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

14 Июн 2014 | Author: | Комментарии к записи SAIC& s own brand car sales to surge 78% this year Gasgoo отключены

SAIC Roewe E50 Electric Cars

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

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

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

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

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

In addition, Dr. Xu said FAW Car Co. Ltd. (SHE:000800) will sell about 240,000- 250,000 Besturn and Mazda vehicles this year.

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

The above 20 automakers sold 1.84 million vehicles in the first half this year, up 63.8% year on year. That is a lot higher than the industry s average growth rate of 50.7%. Meanwhile, the market share of China s own brand passenger vehicles reached 34%, rising 3% from the 31% during the same period last year.

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

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SAIC Roewe E50 Electric Cars

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