SAIC expected to sell 1.5 mln vehicles this year

Shanghai. October 12 (Gasgoo.com) - Shanghai Automotive Industry Corporation (SAIC) sold 1.23 million vehicles in the first nine months this year, up 25.8 percent from one year earlier, Shanghai local newspaper Jiefang Daily reported today.

SAIC may be able to produce and sell 1.5 mln vehicles this year, becoming the first Chinese auto group to reach such a milestone, Jiefang Daily said.

Five years ago, 90 percent of SAIC's vehicles was made in Shanghai area; Now SAIC has six production facilities in different parts of China and one production plant is located in South Korea. 

Three out of these six production facilities are prominet: Shanghai GM Dongyue Automobile in Yantai, Shandong province, shanghai GM Beisheng Automobile in Shenyang, Liaoning Province and Shanghai GM Wuling in Liuzhou, Guangxi province.

SAIC's partner in South Korea, SSANG YONG Motor Company, which produce 100,000 vehicles a month, has become the fast growing automaker in South Korea.

These production facilities outside Shanghai contribute 50 percent of SAIC's total output capacity.

This year, SAIC has acquired Hongyan Automobile in Chongqing. Under SAIC's plan, the plant in Chongqing will be able to produce 40,000 commercial vehicles and 100,000 engines annually.

Roewe, a local brand developed by SAIC, which sold 2000 units a month after its debut in March, has become one of the top three brands in middle and high-end sedan segment in Chinese market.

By 2010, SAIC will be able to produce and sell 2 mln vehicles and of which 600,0000 vehicles will be SAIC's self-developed brands.