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SAIC Motor suffers output and sales declines in Jan

Feb. 8, 2012 (China Knowledge) - SAIC Motor Corp Ltd<600104>, China's No.1 carmaker, said last Monday that its auto output slid 3.91% from a year earlier to 342,600 units in January 2012, while its auto sales also decreased 8.48% year on year to about 380,300 units last month.

In a statement filed with the Shanghai Stock Exchange, the company said Shanghai Volkswagen, a 50:50 joint venture between its parent company, Shanghai Automotive Industry Corp, or SAIC and Volkswagen AG, sold 110,008 vehicles in January, reflecting a year-on-year decline of 2.7%.

Another JV founded by SAIC and General Motors saw its China sales decrease 4% from a year earlier to 127,433 units last month.

SAIC Motor's passenger vehicle sales totaled 11,001 units in January, 45.3% less than it sold in the same month of 2011.

In 2011, SAIC Motor saw its auto sales reach 4.01 million units, representing a year-on-year increase of 11.9%. Board Chairman Hu Maoyuan said the group aims to sell over 6 million vehicles in 2015, including 800,000 units in the overseas market.

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