SAIC Aug auto sales up 14% y-o-y

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Top Chinese automaker SAIC Motor Corp posted a 14.4 percent rise in vehicle sales in August from a year ago, it said in filing to the stock exchange late on Sept 6.

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SAIC, the China partner of General Motors and one of the parterres of Volkswagen, sold 327,924 vehicles last month, up from 286,502 units a year earlier and 270,439 in July, it said.

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Total sales so far this year is up 11.3 percent from the same period a year ago, it said.

After two straight years of frantic expansion, car sales in China settled into a subdued growth pattern at the beginning of 2011, after Beijing stripped away most of its stimulus measures, including rebates for farmers trading in old, gas-guzzling vehicles for more fuel efficient ones.

In the first half, SAIC sold more than 2 million vehicles, up 13 percent year-on-year. The company has said it aims to sell 4 million units for the full year.

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Via: ChinaDaily.

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