SAIC sales up, amid slow down

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From Reuters:

Top Chinese automaker SAIC Motor Corp in April sold 6.96 percent more vehicles than a year earlier, the second straight month of single-digit sales growth amid a market slowdown.

SAIC, which operates auto manufacturing ventures with General Motors and Volkswagen , sold 326,390 vehicles in April, up from 305,139 units a year ago, it said in a brief stock exchange statement.

Sales at its car venture with GM rose 9.15 percent to 97,761 units last month, while its tie-up with Volkswagen came to 100,079 units, up 37.24 percent, it said.

However, April sales at SAIC’s mini vehicle venture with GM fell 11.38 percent to 101,118 units, it added.

China’s mini vehicle segment was badly hit after Beijing stripped away its subsidies for auto buyers in rural areas at the end of last year.

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