SAIC still reigns as top automaker
All large domestic automakers except Chang'an Motor Corp released semiannual reports on Aug 26, with Shanghai Automotive Industry Corp (SAIC) clearly retaining the No 1 spot in both operating revenues and net profits, reports China Securities News.
SAIC's revenue of 147 billion yuan in the first half was a remarkable 140 percent increase over the same period last year, with profits soaring 306 percent to 5.87 billion yuan. GM-SAIC, the carmaker's tie-up with the US auto icon, contributed 51.7 billion yuan to the half-year performance, one third of the company's total operating income.
When combined, the 14 carmakers that released figures saw operating revenues double over the first six month of 2009 and profits skyrocket 250 percent.
