Gasgoo.com (Shanghai July 8) - Shanghai Automotive Industry Corporation Group publicly announced their sales performance review for the first half of 2012 this Friday, Gasgoo.com (Chinese) reported. The manufacturer's sales volume and production output over the six month period totaled 2.23 million vehicles and 2.19 million vehicles, growing 11.41 percent and 13.63 percent from the previous year, respectively.
SAIC's production and sales numbers for the month of June were 355,512 vehicles and 328,300 vehicles, respectively. The figures represent year-on-year growth of 11.91 percent and 9.9 percent.
As expected, the vast majority of SAIC's production and sales numbers during the six month period came from the manufacturer's three joint ventures, Shanghai VW, Shanghai GM and SAIC-GM-Wuling. Six month production numbers for Shanghai VW and Shanghai GM were 642,276 units and 614,132 units, increasing 10.46 percent and 5.48 percent from 2011, respectively. The two JVs sold 636,691 and 671,530 vehicles, growing 10.37 percent and 9.81 percent. Meanwhile, SAIC-GM-Wuling manufactured 762,948 vehicles and sold 750,788 in the first half of the year. The figures represent year-on-year growth of 26.13 percent and 15.9 percent for the JV.
Due to non-stop sales growth among its JVs, SAIC is taking further measures to increase total production capacity. Construction work at Shanghai VW's and Shanghai GM's production sites in Xinjiang and Hubei's capital of Wuhan has already begun. Upon their completion in 2014, the sites will boost the annual production capacities of their respective JVs by 50,000 vehicles and 300,000 vehicles, respectively.
SAIC's stock rose 0.23 percent this past Thursday, finishing at 12.87 yuan ($2.043).
