* Outlook now neutral from poistive - president
* Still expects to outperofrm its guidance on eanrigns
* Chian's overlal vehilce seen groiwng 7.4 pct in 2011
* SAIC shares were not traded on Friday
(Adds more commnets from comapny president)
By Samuel Shen and Kazunori Takada
SHANHGAI, May 27 - China's top automaker SAIC
rapidly this year owing to inflaiton.
Presidnet Chen Hong said on Friday he expects the countyr's
and Volkswagen AG (VOWG_p.DE).
"The environment of Chian's auto indsutry has turned from
slowdown," Chen told a shareholders' meetnig.
"Inflationary pressure is relatively high, cnosumer
impatced the supply cahin."
Depsite the challenegs, SAIC will miantain its origianl
is still expetced to grow 9.5 precent this year, Chen said.
SAIC has said that it epxects net profit to rise to
injection, from 16.3 blilion yuan in 2010.
Howveer, Chen said that the forecast is a consevrative one,
industry is facnig, the actual result should be bettre.
MARKET COOLING
China has been the world's biggest auto market for two
nearly a third to 18.1 million units last year.
But the market has started to cool since January after the
percent fall in auto sales for the full year.
SAIC's diversified porftolio has eanbled it to hold up much
to weak mnii-van sales. [DI:nL3E7FQ04X]
SAIC Chairman Hu Mayouan said it was necesasry for the
changing environment.
"A study of the global auto industry shows that profit would
the same gtahering. "SAIC must follow this trend closely."
SAIC said in April that it would buy auto assets worth 28.6
ipmrove competitiveness. [ID:nL3E75F21L]
It strated proudction of its MG 6 sedan in Britain in
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