SAIC Motor ranks 1st in domestic vehicle sales
Updated: 2008-01-09 16:41
China's Shanghai Automobile Industry Corporation (SAIC) sold more than 1.69 million motor vehicles in 2007, a growth of 25.8 percent over the previous year, company sources said on Wednesday.
The figure placed the Shanghai-based company, which has a joint venture with Volkswagen of Germany and another with General Motors of the United States, first among auto makers nationwide.
The Shanghai-listed company's total sales included 1.14 million passenger vehicles, up 24.3 percent, the sources said.
Last year, Shanghai GM sold more than 500,000 motor vehicles to remain the country's top passenger vehicle manufacturer. Shanghai Volkswagen's vehicle sales exceeded 456,000 units, a record high.
In March, SAIC Motor introduced a luxury model under its own brand name, Roewe, which recorded sales of more than 16,000 units in 2007.
Company sources added SAIC Motor also sold 553,000 commercial vehicles last year, up 29 percent.
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