China's largest car company - Shanghai Automotive Group Co., Ltd. (600104.SS:) released a marketing newsletter on Tuesday that from January to April this year, its various enterprises achieved a total car sales of 1.762 million, a year-on-year growth of 16.76%, close to the growth pace of the first quarter.
Monthly car sales of SAIC in April were 426,000 vehicles, representing an increase of approximately 15.89% over the corresponding period last year.
SAIC’s two main passenger car plant in April, Shanghai Volkswagen sold 125,900 vehicles, an increase of 14.16%, and from January to April the total sales was 534,800 vehicles, an increase of 24.33%; in contrast, sales growth of Shanghai GM in April was higher, the monthly sales was 129,000, an increase of 32.12%, from January to April, the total sales was 530,400, an increase of 19.26%.
Shanghai Volkswagen is the joint venture company of SAIC and Volkswagen (VOWG.DE:), Shanghai GM is a joint venture of SAIC and GM (GM.N:),.
SAIC car sales in the first quarter was 1,336,000, an increase of 17%; from January to March this year, net profit was 6.198 billion yuan, an increase of 10.54%.