Mexican Media Brands
SAIC’s Quarterly Profit Up 5%
SAIC Motor Corp., China's largest carmaker, posted a net profit in the third quarter of 6.8 billion yuan ($1.1 billion) compared with 6.5 billion yuan in July-September 2013, Bloomberg News reports.
#economics
Share
SAIC Motor Corp., China's largest carmaker, posted a net profit in the third quarter of 6.8 billion yuan ($1.1 billion) compared with 6.5 billion yuan in July-September 2013, Bloomberg News reports.
Vehicle sales by the company's ventures with Volkswagen and General Motors grew 8% to 408,000 units and 11% to about 422,000 units, respectively. Demand for vehicles made by by its tie-up with GM and Wuling climbed 19% to 439,000 units.
SAIC says sales by its own MG and Roewe brands plunged 40% compared to the third quarter of 2013.
RELATED CONTENT
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
on the Genesis GV60 interior, EV sales in H1, Bentley Bentayga's wood work, Faurecia's advanced manufacturing & more
The strange glowing orb in the Genesis GV60. . .global EV sales in the first half. . .creating wood for the Bentayga interior. . .the importance of material handling at Faurecia. . .lux ATPs. . .fast Porsche. . .fast Lambo. . .the Avalon Hybrid. . .Silverado steel. . .
-
Global Car Market to Shrink for 2-3 Years
Global sales of light vehicles will decline year on year through at least 2021, predicts LMC Automotive at its annual outlook conference outside Detroit, Mich.