SAIC Motor auto sales drop 16.62 percent in H1

0 Comment(s)Print E-mail Xinhua, July 6, 2019
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BEIJING, July 6 (Xinhua) -- Shanghai-based SAIC Motor Corp., the biggest auto company on China's A-share market, reported falling sales in the first half of the year.

Auto sales plunged 16.62 percent year on year to 2.94 million units during the period, according to a statement filed to the Shanghai Stock Exchange.

Its three joint ventures -- SAIC Volkswagen, SAIC-GM and Shanghai General Motors Wuling -- all witnessed falling sales, down 9.94 percent, 12.91 percent and 29.19 percent, respectively.

Car production of the company also lost steam, with a total of 2.86 million units produced in H1, shrinking 20.8 percent from a year ago.

China, the world's biggest auto market, has seen weak sales in recent months.

In May, a total of 1.913 million vehicles were sold in the country, down by 16.4 percent year on year, according to the China Association of Automobile Manufacturers. Enditem

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