SAIC Motor reports falling sales in first eight months

0 Comment(s)Print E-mail Xinhua, September 8, 2019
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SAIC Motor Corp, the biggest auto company on China's A-share market, reported plunging sales during the first eight months of the year.

Auto sales plunged 14.81 percent year on year to 3.86 million units during the period, according to a statement filed to the Shanghai Stock Exchange.

Its three joint ventures, namely, SAIC Volkswagen, SAIC-GM and Shanghai General Motors Wuling, all witnessed shrinking sales, down by 8.54 percent, 13.77 percent and 26.05 percent, respectively.

In July, the retail sales of auto businesses above designated size fell 2.6 percent to 305.62 billion yuan (about 43.12 billion U.S. dollars) from a year ago, according to the National Bureau of Statistics. 

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