SAIC auto sales down 8.48% in January

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Top Chinese automaker SAIC Motor Corp reported its first monthly sales decline in six months in January as automakers and dealerships closed shop for the week-long Lunar New Year holiday.

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SAIC, which makes cars in partnership with General Motors and Volkswagen, delivered 380,305 vehicles in the month, down 8.48 percent from a year earlier, it said in a filing with the Shanghai stock exchange on Tuesday.

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Its tie-up with General Motors saw its sales down 4.02 percent from the year-ago period to 127,443, while sales at its venture with Volkswagen were down 2.65 percent to 110,008. Sales of SAIC’s own-brand cars, including Roewe and MG sedans, came to 11,001 in January, down 45.34 percent, it said.

Last month, SAIC forecast a rise of more than 40 percent in 2011 net income on solid demand for German and American marques made at its Shanghai ventures.

Via: ChinaDaily.

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