SAIC sells 252,190 vehicles in Nov, up 91%

(chinatrucks.com, Dec.9, 2009)"SAIC Motor, China's top vehicle producer, said on Tuesday that it sold 252,190 vehicles in November, up 91 percent from a year earlier, helped by government stimulus schemes that boosted consumption of domestic products including cars.

SAIC Motor, Chinese partner of global giants including General Motors and Volkswagen AG, sold 2.44 million vehicles during the January-November period, up 54.3 percent from a year earlier, it said in a statement published in the official Shanghai Securities News.

Its joint venture with General Motors sold 78,777 cars in November compared with only 29,469 units a year earlier, while its joint venture with Volkswagen sold 65,166 cars, up from 39,039 units in the same month last year, it said.

SAIC Motor's total November sales were up 4.9 percent from October's 240,300 units, according to figures previously announced by the company.

In a move to counter the economic impact of the global financial crisis China adopted stimulus schemes since late last year that included giving consumers discounts if they traded in old cars for new ones.

Automakers are hoping Beijing will extend initiatives that boosted China's passenger car sales by 45 percent in the year through October, helping it pass United States to become the world's largest auto market this year.

The Shanghai Securities News said on Tuesday that China's vehicle sales exceeded 12 million units in the first 11 months of this year, without giving further details.

Previous official figures showed vehicle sales rose 37.71 percent year on year to 10.89 million units in the first 10 months, compared with last year's total of 9.38 million units.

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