Automotive News   |   Automotive News Europe   |   Autoweek   |   Automobilwoche

Automotive News China Newsletter
Register our free newsletter, sent each Monday and Thursday

     Automakers   Suppliers   Auto Show   Comment   Car Cutaway   Newsletters   Press Releases   Chinese Version   Register for Newsletter
  Contact Us:   Editorial   Advertising   Subscription Information   |   About Us   Media Kit
Home >> Automaker Email this story   Print this story
SAIC's 2017 net profit rises 7% behind sales growth
Automotive News China | 2018/1/23

SAIC Motor Corp. estimates its net profit last year rose 7 percent to 34.2 billion yuan ($5.3 billion). 

The state-owned automaker attributed the increase in profitability to sales growth at its subsidiaries and joint ventures with General Motors and Volkswagen Group, the two biggest foreign automakers in China.

Aside from the two joint ventures, SAIC builds and sells passenger vehicles, buses and trucks under its own brands.  

Last year, SAIC¡¯s proprietary brands and joint ventures with GM and VW sold 6.9 million vehicles, up 6.8 percent. 

Sales at SAIC-GM -- which markets the Buick, Chevrolet and Cadillac brands -- increased 6 percent to 2 million vehicles. 

Deliveries at SAIC-GM-Wuling -- a joint venture with GM that produces Wuling minibuses and passenger vehicles under the Baojun brand -- edged up 0.9 percent to 2.2 million units.

Sales at SAIC-VW, the company¡¯s partnership with Volkswagen, rose 3 percent to 2.1 million vehicles. 

Combined deliveries at SAIC¡¯s Roewe and MG car brands surged 62 percent to 534,187 in 2017.

Related Stories
  • SAIC, GM launch leasing unit
  •     --Published:2018/4/12
  • MG to sell first electric car in Europe
  •     --Published:2018/27/11
  • SAIC to launch ride-hailing services
  •     --Published:2018/13/11
  • SAIC plans MG crossover output, sales in India
  •     --Published:2018/4/9
  • EV-sharing services backed by Geely, SAIC seek new funding to spur growth
  •     --Published:2018/14/8
  • Audi set to produce at SAIC VW after buying 1% stake in venture
  •     --Published:2018/29/6
  • SAIC to build electrified vehicles in Ningde for southeastern China and Southeast Asia
  •     --Published:2018/1/5
  • SAIC's 2017 profit jumps behind Roewe, MG, joint-venture brands
  •     --Published:2018/3/4
  • Austria's TTTech to develop control system for SAIC's self-driving vehicle
  •     --Published:2018/20/3
  • SAIC-VW to build plant for EVs, report says
  •     --Published:2018/20/3
  • SAIC, chipmaker Infineon form venture to make EV power modules in China
  •     --Published:2018/6/3
  • MG sales stay robust on strength of MG ZS crossover, MG6 sedan
  •     --Published:2018/23/2
  • SAIC readies electric crossover to rival Tesla Model X
  •     --Published:2018/6/2

    Our Newsletter Editions
    Automotive News China produces two email newsletters each week. You can sort your news by the articles highlighted in each of our newsletters here.

    Select your newsletter     


    Automotive News China
    Room 1303, Building 2, Lane 99, South Hongcao Road,
    Shanghai 200233
    Telephone: 86-139-1851-5816
    Fax: 86-21-6495-0895
    Home | Help Center | About Us | Privacy Policy | RSS
    Entire contents © Crain Communications, Inc.
    Use of editorial content without permission is strictly prohibited. All Rights Reserved.