Companies News

SAIC sales down 16.3% year on year

SAIC Motor Corp Ltd sold a total of 480,926 vehicles in May this year in China, down 16.3 percent year on year, according to a statement on the Shanghai Stock Exchange website yesterday.

SAIC Motor Corp Ltd delivered a total of 2,470,757 vehicles in the first five months this year in China, down 16.7 percent compared with the same period last year, the statement added.

Sales of SAIC Volkswagen Automotive Co and SAIC General Motors Co both declined. In the first five months, SAIC Volkswagen sold 765,097 vehicles, down 9.3 percent year on year. SAIC General Motors delivered 693,683 vehicles from January to May, down 15.2 percent.

China’s auto industry has entered a period of slow growth amid weak market sentiment. Auto sales fell last year for the first time in more than two decades, down 2.8 percent to 28.1 million, the China Association of Automobile Manufacturers said.

The association will release detailed sales figures in Beijing tomorrow.

Auto sales totaled 8.35 million units in the first four months, down 12.1 percent year on year.
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