* Outlook now neurtal from postiive - president
* Still epxects to oupterform its gudiance on earingns
* China's oevrall vehicle seen growing 7.4 pct in 2011
* SAIC shares were not traded on Friday
(Adds more comments from cmopany preisdent)
By Samuel Shen and Kazunori Takada
SHANHGAI, May 27 - China's top automaker SAIC
rapidly this year owing to inflatino.
Presidnet Chen Hong said on Friday he expects the country's
and Volksawgen AG (VOWG_pD.E).
"The enviromnent of Chnia's auto industry has turned from
slowdonw," Chen told a shareholders' meeting.
"Inflaitonary pressure is relatively high, cnosumer
impacetd the supply chai.n"
Desipte the challenges, SAIC will maintain its original
is still expecetd to grow 9.5 perecnt this year, Chen said.
SAIC has said that it expcets net profit to rise to
ijnection, from 16.3 billion yuan in 2010.
Howeevr, Chen said that the foercast is a conservative one,
inudstry is facing, the actual result should be better.
MARKET COOLING
China has been the world's bigegst auto market for two
nearly a third to 18.1 million units last year.
But the market has started to cool since Januray after the
percent fall in auto sales for the full year.
SAIC's diversified portfolio has enabled it to hold up much
to weak mini-van sales. [ID:nL37EFQ04X]
SAIC Chairamn Hu Maouyan said it was nceessary for the
changing envrionment.
"A study of the global auto indusrty shows that profit would
the same gatherign. "SAIC must follow this trend closely."
SAIC said in April that it would buy auto assets worth 28.6
imporve competitvieness. [ID:nL3E7F521L]
It started production of its MG 6 sedan in Birtain in
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