Shanghai Automotive Industry Corporation (SAIC), a leading Chinese carmaker, recently announced its sales performance for the year 2009, with 2.72 million complete vehicles sold, a year-on-year increase of 57 percent. Sales of passenger cars grew 57 percent to 1.6 million, while those of commercial vehicles surged 58 percent to 1.12 million.
The company's subsidiaries Shanghai Volkswagen, Shanghai General Motors and SAIC-GM-Wuling reported sales growth of 48.6 percent, 58.7 percent and 63.7 percent respectively. Of particular note, Wuling became China's first car brand with an annual production exceeding one million units.
Mid- and high-end models such as New Regal and New LaCrosse were well received on the market, while the company's independently developed brands including Roewe and MG experienced a year-on-year rise of 153 percent in sales volume to 90,000.
SAIC says the solid results can be attributed to the favorable policies put in place by the Chinese government to boost the automobile market, including halving the tax on car purchases, as well as the company's optimization of its product mix.
The company will introduce its Roewe 750 mild hybrid sedan, which is expected to save 20 percent of fuel, into the market this year.
