SAIC Motor auto sales up 14.13pct y-o-y in Jan-Oct

SAIC Motor (600104.SH), China's largest automaker by sales, sold 4,245,586 motor vehicles in the first ten months of the year, a surge of 14.13 percent year on year.

The company's monthly auto sales in October increased 9.2 percent year on year to 452,687 units, according to its filing to the Shanghai Stock Exchange.

The company's major joint ventures all reported sound sales in the first ten months of the year. Shanghai Volkswagen, a 50-50 joint venture between SAIC and its German partner Volkswagen, posted a 20.27-percent year-on-year rise in sales in January-October, hitting 1,299,892 units, with sales in October up 3.6 percent year on year at 136,268 units.

SAIC's joint venture with General Motors, the Shanghai GM, sold 1,297,996 units in the first ten months, up 13.72 percent year on year. Its auto sales in October came to 137,269 units, a rise of 13.5 percent from the same period of last year.

 (Edited by Olivia, Olivia@tireworld.com.cn)