SAIC Expects Profit to Quadruple on China Sales Boom
This article is for subscribers only.
SAIC Motor Corp., China’s largest automaker, said its first-half profit may have more than quadrupled from a year earlier because of rising demand for vehicles in the world’s most populous nation.
The Shanghai-based automaker didn’t provide earnings figures in a statement today to the city’s stock exchange. Net income was 1.4 billion yuan ($207 million) in the first half of 2009, according to the statement.