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SAIC's 2017 profit jumps behind Roewe, MG, joint-venture brands
Automotive News China | 2018/4/3

SAIC Motor Corp.'s net profit increased 7.5 percent to 34.4 billion yuan ($5.5 billion) in 2017 behind sales growth at its proprietary brands and joint ventures with General Motors and Volkswagen Group.

Sales at the state-owned automaker¡¯s car and truck brands and light-vehicle joint ventures with GM and VW rose 6.8 percent from a year earlier to 6.9 million vehicles. 

Total revenue jumped 15 percent to 870.6 billion yuan last year.

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

Sales at SAIC-GM, which markets the Buick, Chevrolet and Cadillac brands, grew 6 percent to top 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 which markets the VW and Skoda brands -- rose 3 percent to 2.1 million vehicles. 

Behind the profit generated by its joint ventures with GM and the VW group, SAIC has remained the most profitable automaker in China for many years. 

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