SAIC Motor profit growth slows
2012-10-31 0:00:00Font Size：Big Medium Small
China’s largest automaker by sales SAIC Motor (600104.SH) said on Wednesday (October 31, 2012) that its net profits for Q3 increased by only 1.43% year on year to reach 5.35 billion yuan, marking the weakest quarterly growth rate since the beginning of 2009.
The automaker’s net profits for the January-September period came to 16.13 billion yuan, up 3.84% year on year, while its operating revenues in the same period totaled 353.2 billion yuan, a jump of 8.32% from the corresponding period of last year.
SAIC said it sold 3.31 million vehicles in the first nine months of 2013, up 10.95% year on year, outperforming its domestic rivals.
(Contributed by Olivia, olivia@tireworld.com.cn)
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