China

SAIC Motor Sells 596,607 Cars in January 2017, Down 5% Compared with January 2016

Summary:

  • SAIC Motor (600104.SS) has reported to the Shanghai Stock Exchange that it sold 596,607 cars in January 2017.
  • SAIC Motor manufactured a total of 629,494 cars in January.

 

Why It Matters:

  • The number of cars sold in January 2017 decreased 4.86% compared with the 627,513 cars sold in January 2016. However, the number of cars sold in January 2017 declined 7.2% compared with the 642,691 cars sold in December 2016.

 

  • Recently, SAIC Motor said it expects its net profit for 2016 to increase 7.5% to RMB 32 billion compared with the previous year.