SAIC Q1 sales of own-brand cars surge four fold

Shanghai, April 20 (Gasgoo.com) SAIC Motor Corp, General Motors' Chinese partner, said today that sales of its own-brand passenger cars surged four-fold in the first quarter to 18,000 units, Reuters reported.

As China's largest automaker, SAIC manufactures vehicles in joint ventures with GM and Volkswagen AG, but also makes cars of MG and Roewe brands that were developed on the basis of acquired technology.

SAIC president Chen Hong said to the official China Securities Journal earlier this month that the company expected sales of its own-brand cars to rise to 50,000 units this year, up from 36,000 units in 2008.

At the ongoing 2009 Shanghai auto show, SAIC launches two own-brand sedans: MG6 and Roewe N1 concept. Meanwhile, the auto giant also releases three self-developed new-energy sedans, including an all-electric sedan, a fuel-cell sedan and a hybrid sedan.

The Roewe 7850 hybrid sedan is expected to go on sale by the end of 2010. In addition, SAIC will provide nearly 1,000 new-energy vehicles for the 2010 Shanghai World Expo.

In 2008, SAIC sold 1,826,000 vehicles, up 8% from its sales in 2008, leading the Chinese auto sector with 18.5% market share.