Profit set to jump
By Vivian Jin |
February 1, 2011, Tuesday
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Print Edition
Print Edition
SAIC Motor Corp said its 2010 net profit would more than double from a year earlier.
The nation's largest auto group expected its 2010 net income to grow more than 100 percent from 6.59 billion yuan (US$997 million) a year earlier, the company said in a statement to the Shanghai Stock Exchange.
The auto maker also said it has increased its sales target for this year despite the overall industry's expected cooling from a market boom in 2010. The company aimed to sell 3 million cars this year.
The nation's largest auto group expected its 2010 net income to grow more than 100 percent from 6.59 billion yuan (US$997 million) a year earlier, the company said in a statement to the Shanghai Stock Exchange.
The auto maker also said it has increased its sales target for this year despite the overall industry's expected cooling from a market boom in 2010. The company aimed to sell 3 million cars this year.
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