SHANGHAI—SAIC Motor Corp. which is a Chinese auto maker said that Monday its first-half profit surged 46% from a year earlier due to higher sales, but with the slow growth of the economy and the expiration of government incentives to purchase cars could slam the brakes on sales growth in China this year.
The country's largest car maker by sales volume said in a written statement that its profit climbed to 8.58 billion yuan (US$1.34 billion) for the six months ended June 30, up from 5.87 billion yuan a year earlier.Revenue increased 25% to 183.9 billion yuan. The automaker based in Shanghai, which is making vehicle joint venture in China with General Motors Co. and Volkswagen AG sold 2,010,000 vehicles in the first half of this year, up 13% over the same period last year, the company said. Vcommindia News
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