Vehicle sales surge
By Jin Jing |
April 30, 2010, Friday
|
Print Edition
Print Edition
SAIC Motor Co reported its net profit more than tripled in the first quarter of this year as vehicle sales surged.
The listed unit of China's largest auto group achieved a net profit of 2.9 billion yuan (US$425 million) in the first three months of this year, compared to 627 million yuan a year earlier, according to its filings to the Shanghai Stock Exchange yesterday.
As China extended stimulus for the auto industry, its first-quarter sales jumped 63 percent to 891,800 units, triggering a revenue increase of 130 percent to 62.8 billion yuan.
The listed unit of China's largest auto group achieved a net profit of 2.9 billion yuan (US$425 million) in the first three months of this year, compared to 627 million yuan a year earlier, according to its filings to the Shanghai Stock Exchange yesterday.
As China extended stimulus for the auto industry, its first-quarter sales jumped 63 percent to 891,800 units, triggering a revenue increase of 130 percent to 62.8 billion yuan.
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