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SAIC Posts 57% Sales Increase in 2009 to Reach 2.72M Units

Shanghai Automotive Group Co., Ltd. (SAIC) posted combined passenger car and commercial vehicle sales of 2.72 million units in 2009, a 57% increase from the year before. Passenger car sales accounted for 1.6 million units, an increase of 57%; commercial vehicle sales accounted for 1.12 million units, an increase of 58%.

  • Shanghai-Volkswagen posted vehicle sales of 728,000 units, an increase of 48.6%;

  • Shanghai GM achieved sales of 727,000 units, an increase of 58.7%;

  • SAIC-GM-Wuling sold 1.065 million, an increase of 63.7%.

SAIC attributed its performance to two main factors: government incentive policies and the introduction of new products. The new Regal, new Passat, new LaCrosse, Hao Rui and other launch vehicle enjoyed steadily climbing sales.

SAIC said that it continues to promote the commercialization of new energy vehicles. At the upcoming World Expo 2010 conference, SAIC will provide nearly a thousand units of new energy vehicles including hybrid, pure electric, fuel cell, and supercapacitors vehicles spanning cars, buses, sightseeing cars, rental cars and other styles.

In 2010, SAIC will introduce a Roewe 750 mild hybrid on the market, and in 2012, plug-in versions of the Roewe 550 and pure electric cars will be introduced. SAIC recently entered a joint venture with Li-ion maker A123Systems to develop, manufacture and sell complete vehicle traction battery systems for use in hybrid electric and pure electric passenger vehicles and heavy duty truck and bus applications in China. (Earlier post.)

According to forecasts, the 2010 demand in the domestic China auto market is expected to reach about 14.9 million units, an increase of about 10%, comprising about 9.5 million passenger cars (14% growth) and approximately 5.4 million commercial vehicles (3% growth). SAIC is targeting 3 million units for the year.

Comments

HarveyD

Phenomenal growth for a diversified vehicle manufacturer.

At the current growth rate, China's car market may be in first place much sooner than expected.

Will China be the birth place of mass produced electrified vehicles during the current decade?

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