Strong sales see SAIC’s prof­its up

The Myanmar Times - - International Business -

CHINA’S biggest car­maker Shang­hai Auto In­dus­try Cor­po­ra­tion (SAIC) has re­ported a rise in net profit of more than 6 per­cent in the first half on stronger sales.

The firm made 15.06 bil­lion yuan (US$2.25 bil­lion) in the first six months of the year, SAIC said in a state­ment last week to the Shang­hai stock ex­change, where it is listed.

The fig­ure was 6.31pc higher than the 14.17 bil­lion yuan in the same pe­riod last year.

SAIC sold a to­tal of 3 mil­lion cars in Jan­uary-June, up 4.9pc year-onyear, main­tain­ing its po­si­tion as the coun­try’s biggest auto man­u­fac­turer by sales.

Car sales in China, the world’s biggest auto mar­ket, in­creased in 2015 at their slow­est rate in three years, ris­ing less than 5pc an­nu­ally to 24.6 mil­lion units.

But they jumped 8.14pc in the first six months to 12.83 mil­lion, ac­cord­ing to the China As­so­ci­a­tion of Au­to­mo­bile Man­u­fac­tur­ers. –

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