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SAIC Motor's 2011 auto sales hit 4.01 mln units

Jan. 3, 2012 (China Knowledge) - SAIC Motor Corp Ltd<600104>, China's No.1 carmaker, has announced that it sold 4.01 million vehicles in 2011, 11.9% more than in the previous year.

The growth rate was higher than the average increase of about 3% in the whole Chinese auto industry, which experienced a slowdown in the year after a 32% surge in 2010, due to the exit of tax incentives for purchase of low-emission cars and purchase restrictions in Beijing.

SAIC Motor's auto sales was only 2 million units in 2009 and rose to more than 3 million units in 2010.

In 2012, development of new energy vehicles will be part of the automaker's focus, and the company plans to launch a pure electric car and a plug-in hybrid vehicle that is expected to cut fuel consumption by 50%.

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