China Car Forums - SAIC news

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- SAIC (Shanghai Automotive Industry Corporation) (https://www.chinacarforums.com/forum/forumdisplay.php?f=32)

- - SAIC news (https://www.chinacarforums.com/forum/showthread.php?t=2907)

CCF mod

12-18-2007 11:44 AM

SAIC plans to introduce 30 new cars in next five years!

Quote:

December 18th, 2007 - the Chinese motoring press are reporting that SAIC plans to push out 30 cars over the next five years, that includes five new platforms.

Roewe has been selling well so far this year, with SAIC selling 18,000 Roewe 750’s between March and November of 2007, and on average sells around 2000 vehicles per month in 2007.

China Car Times knows of the Roewe 750 (W161 platform) and the Roewe 550 (W261 platform) we are now hearing rumors of an S161 platform which will form the basis of a small car, the Roewe SUV is based off the S100 platform.

Surely our more astute readers will realize that SAIC are actually claiming that they can bring out a new car every two months over the next 60 months/five years.

source: China Car Times

CCF mod

12-20-2007 11:12 AM

Excellent news for SAIC - the company sold 1.5 millions vehicles in first eleven months of 2007!

Quote:

December 20 2007 - Shanghai Automotive Industry Corp (SAIC) has sold 1.5 million vehicles in the first eleven months of this year, reaching its sales target for the full year of 2007, China Business Times reported today.

SAIC's passenger vehicle sales have reached 996,675 units in January through November, up 22.5 percent from a year earlier. In passenger vehicles, Shanghai VW sold more than 400,000 units, and Shanghai GM sold 430,000 vehicles. Ssangyong, a subsidiary of SAIC, has experienced buoyant sales in Chinese market.

During the same period, SAIC sold 30,000 commercial vehicles (heavy and light duty trucks), 15 percent higher than its full year target.

The company is expected to sell 1.6 million vehicles by year end. By 2010, SAIC will be able to produce and sell 2 million vehicles and of which 600,000 will be SAIC's self-developed models, the company said earlier.

source: Gasgoo.com

CCF mod

01-09-2008 01:38 PM

Sales results for 2007.

Quote:

January 9, 2008 – Shanghai Automobile Industry Corporation, or SAIC, still holds No.1 position in China automobile industry by selling 1.69 million vehicles in 2007, up 25.8 percent from one year earlier, the company announced yesterday.

In passenger vehicle sales, SAIC sold 1.13 million units, up 24.3 percent year-on-year. Shanghai General Motors has consolidated its leading position in China’s passenger vehicle sales by selling more than half a million vehicles in 2007, while Shanghai VW sold 456,000 units and Ssangyong sold 136,000 vehicles.

SAIC also sold 16,000 Roewe vehicles since it was launched in March of 2007.

In commercial vehicle sales, SAIC sold 553,000 units, up 29 percent from one year earlier. SAIC-GM-Wuling sold 520,000 mini-vans (Wuling Star) in 2007, up 23.8 percent year-on-year; SAIC-Iveco-Hongyan sold 24,000 trucks, up 69.7 percent year-on-year.

source: Gasgoo.com

CCF mod

03-27-2008 12:00 PM

China's SAIC Motor net profit surges 242% in 2007

From gasgoo.com:

Quote:

March 27, 2008 - SAIC Motor Corp Ltd., listed company of China's largest automaker Shanghai Automotive Industry Corp (SAIC), posted a net profit RMB 4.63 billion ($656,000) for the whole year of 2007, up 242% over the previous year.

In 2007, SAIC has sold a total of 1.69 million vehicles in the Chinese market, up 25.8% year on year, and 1.13 million of them were passenger vehicles, an increase of 24.3% from one year earlier. The number makes it the leading automaker in China in terms of sales.

Its two passenger car joint ventures with General Motors Corp and Volkswagen AG sold 500,308 and 456,424 vehicles respectively last year, while commercial vehicle ventures Saic-GM-Wuling and Saic-Iveco Hongyan each sold 520,000 and 24,000 vehicles. Sales of South Korea subsidiary Ssangyong Motor were 136,000 vehicles, up 13%.

Also by the end of last year the listed company had issued RMB 6.3 billion convertible debts, which provided fund support for improving R&D facilities and capabilities.

Due to increased auto sales and capital injection, the automaker's total revenue last year has reached RMB 104 billion ($14.8 B), a growth of 434% from one year earlier.

Earnings per share stood at RMB 0.708, up from RMB 0.355 a year earlier.

The company said it has set a sales target of 1.9 million units for 2008, with total revenues growing to RMB 119.1 billion. It predicts that China's total domestic auto demand will grow by 10% to 9.7 million units this year.

From China Car Times:

Quote:

SAIC top brass are probably kicking themselves that they didnt stick a bid in for Landrover and Jaguar, after a record breaking 2007 they can easily afford it!

In 2007 SAIC sold 1.69 million vehicles, which translates into a 25.8% year on year increase on 2006. Profit in RMB was 4.63 billion RMB. Of the 1.69 million vehicles sold, 1.13 million were automobiles.

Sales with its joint venture partners worked out as follows: GM sold 508,380 vehicles, and VW 456,424. SAIC’s minivan and truck making ventures, SAIC-GM-Wuling and SAIC-Iveco Hongyan each sold 520,000 and 24,000 vehicles. Some more good news for SAIC bosses are that sales at its Korean owned manufacturer, Ssangyong, are up 13%. Ssangyong sold 136,000 vehicles in 07, a respectable figure for essentially a niche market player.

SAIC is planning to push the goal posts even further in 2008, with them planning to sell 1.9 million vehicles. Can they meet those targets? Possibly, the Chinese Car Industry shows no signs of slowing just yet.

mememe

04-09-2008 03:40 PM

Re: SAIC business news

SAIC looks into future

By Hao Zhou (chinadaily.com.cn)
Updated: 2008-04-09 17:33

On April 1 this year, the entire equity of Nanjing Automobile (Group) Corporation was put under Shanghai Automotive Industry Corporation (SAIC)'s name, and the integration work of both giant automakers entered a new phase.

Nanjing Auto had suspended its long-lasting cooperation with Italian automaker Fiat after SAIC signed its merger deal on December 26 last year with Yuejin Motor Group, controlling shareholder of Nanjing Auto.

However, as orders for SAIC's car models continue to outpace its production capacities, China's largest passenger car maker is considering rejuvenating Nanjing Fiat's car production line.

The 21st Century Business Herald reported earlier that Shanghai Volkswagen, Volkswagen's 50-50 joint venture with SAIC, will pay 1.5 billion yuan ($214 million) to SAIC for Nanjing Fiat assets.

"Shanghai Volkswagen is continuing preparations for assembling its current car models in Nanjing," SAIC said in a statement posted on its website.

It has also been reported that the new base for Shanghai Volkswagen will engage in production in the middle of 2008 and is expected to have production capacity of 100,000 cars by 2010.

At the same time, SAIC, a leader in the passenger car market, also has ambitious plans to produce 400,000 independently developed commercial vehicles between 2006 and 2010.

Although it has bought SsangYong's technology and started to produce the Sunwin-branded coaches under cooperation with Volvo, it was still hardly able meet this year's sales target of 700,000 commercial vehicles.

Wuxi-based Soyat, previously owned by Nanjing Automobile, could be SAIC's next merger target for expanding its commercial vehicle output. The 21st Century Business Herald said SAIC had sent an expert panel to look into the feasibility of buying out Soyat.

http://www.chinadaily.com.cn/bizchin...nt_6603923.htm

CCF mod

04-28-2008 11:24 AM

SAIC profit rises on China's Volkswagen car demand.

Quote:

SAIC Motor Corp., China's biggest automaker, boosted first-quarter profit 7 percent after selling more cars at ventures with Volkswagen AG and General Motors Corp.

Net income climbed to 1.24 billion yuan ($177 million), or 0.191 yuan a share, from 1.16 billion yuan, or 0.177 yuan, a year earlier, the Shanghai-based carmaker said in a statement to the city's stock exchange. Sales rose 14 percent to 28.9 billion yuan from 25.5 billion yuan.

SAIC Motor's auto sales growth trailed the total market because of cooling demand for Buick Excelles made by its venture with GM. The company tripled profit last year after buying 19.1 billion yuan of assets from its parent to gain direct access to the world's second-largest vehicle market.

"Given the company's huge base and rising raw material prices, it will be more and more difficult to maintain fast profit growth," said Zhang Xin, an analyst with Guotai Junan Securities Co. in Beijing.

SAIC Motor's vehicle sales climbed 15 percent in the first quarter to 463,683, according to the China Association of Automobile Manufacturers. The overall market expanded 21 percent. China is likely to surpass the U.S. as the world's biggest car market by 2015, according to Volkswagen.

Sales growth at GM, which only builds vehicles in China through ventures, slowed to 7.4 percent last quarter, trailing Volkswagen as Chinese drivers shunned GM's Excelle in favor Volkswagen Santanas. Volkswagen builds the Santana through a separate venture with SAIC Motor.

GM's first-quarter sales in China were also hit by the country's worst snowstorms in five decades, which disrupted the delivery of parts and shipments of new vehicles from minivan- maker SAIC-GM-Wuling Automobile Co.

SAIC Motor agreed to buy Nanjing Automobile Group Corp.'s auto-making units late last year to add new models including MG cars and trucks.

source: Bloomberg

CCF mod

05-21-2008 01:25 PM

SAIC to export Roewe 550 to Europe in early 2009.

Quote:

May 21, 2008 - Shanghai Automotive Industry Corporation (SAIC) displayed the Roewe 550 at the Beijing auto show last month and the world saw the first new Chinese car emerging from the remnants of MG Rover. SAIC will launch this car to the European market in early 2009. And another all-new model, Roewe 750, also jointly designed by its auto technical centers in Shanghai and Britain, is expected to go on sale in Europe later this year.

The Roewe 550 is a mid-sized car, developed from a model of the British car-maker. SAIC, the Roewe's maker, was involved in the project as part of a technical deal made before MG Rover failed. The 550 is based on the Rover 75, shortened, modified and restyled. SAIC owns the intellectual property of Rover and MG models and has already relaunched the old 75 as the Roewe 750, which is basically a stretched version of the Rover 75 with a revamped interior and new grille. SAIC have reportedly held talks with the German company, Karmann, in hopes of getting them on board to make the Roewe 550 for the European mainland.

While production of the MG Rover-based cars is forging ahead, SAIC will begin production of the MG TF LE500 roadster at MG Rover's old Longbridge plant in the UK in early August this year. In 2009, SAIC will launch its self-developed mid-sized sedans under the name MG6 to complete the MG portfolio.

SAIC is China's biggest car company. For some years it has made vehicles in joint ventures with General Motors and Volkswagen and is now beginning a series of own-brand models. The Roewe 550 is the first intended for export as well as the burgeoning domestic market.

Earlier this year, SAIC took over Nanjing Automobile Corporation (NAC), which had bought the MG Rover tooling and equipment as well as the MG name. The merger allowed SAIC to use the MG brand for export. SAIC and NAC have said their next target for expansion is Europe.

When it is launched in Europe in early 2009, the Roewe 550 is expected to sell for 12,000 to 20,000 euros.

source: Gasgoo.com

CCF mod

06-12-2008 11:37 AM

SAIC-Roewe to roll out high-end NLC in 2010.

Quote:

June 12, 2008 - SAIC-Roewe has been developing an upgraded version of Roewe750 for a position in the medium car market. This model, code-named NLC (New Large Car) inside, is to be launched in 2010 as scheduled.

SAIC Roewe has worked on the upgraded version of Roewe750 since last year. It will be an all-new model powered by a new engine and will be based on an all-new platform. The model will target the commercial car market, sources of SAIC said.

“We have fulfilled the basic body styling and expect to enter the engineering R&D stage this year,” said an SAIC engineer involved in NLC development. NLC is designed to accomplish Lexus’ performance at Camry’s cost.

The hybrid project (code-named NLE) is also promoted simultaneously as the supporting system of NLC. The 2.0-3.6L L4 and V6 series of NLE will be mass-produced as soon as possible to replace the current K-series engine, confirmed Gao Weiming, general manager of the technical center in SAIC.

SAIC-Roewe has struggled for a market share in the mid-class and luxury car market since Roewe750 was launched in early 2007. Roewe is passionate to enter the high-end car market.

source: Gasgoo.com

mememe

08-30-2008 07:00 AM

Re: SAIC business news

SAIC Motor H1 net profit down 28 pct

August 30, 2008

SAIC Motor Corp Ltd said first half net profit fell 27.64 percent year-on-year to 1.97 billion yuan ($286.72 million) due to expenses incurred following its acquisition of Nanjing Automobile Group.

SAIC Motor, the listed unit of China's largest automaker Shanghai Automotive Industry Corp (SAIC), said it sold over 990,000 autos in the six-month period, up 17.6 percent year-on-year.

However, sales growth slowed markedly in the second quarter, and the company failed to meet its sales target for the first half.

Rising raw material costs also hurt its results, the company said.

Operating revenue was 57.64 billion yuan, up 12.87 percent year-on-year, supported by rising auto sales volume.

Domestic revenue rose 28.32 percent to 47.84 billion yuan, while overseas revenue fell 28.92 percent to 9.8 billion yuan.

Earnings per share were 0.30 yuan, down from 0.42 yuan a year earlier.

SAIC Motor said Chinese auto demand growth will ease in the rest of the year. It did not make a forecast for the full year.

In December 2007, SAIC Motor agreed to pay 2.1 billion yuan to Yuejing Motor to purchase the vehicle and core auto parts assets of Nanjing Auto.

In its statement, SAIC Motor said the consolidation of Nanjing Auto was having a short-term negative impact on operating profit.

It added that South Korea's Ssangyong Motor Co, which SAIC Motor controls with a 48.92 percent stake, has also seen a sharp decrease in domestic sales due to higher diesel prices and stricter emission standards.

http://www.gasgoo.com/auto-news/1007...wn-28-pct.html

mememe

09-13-2008 11:16 AM

Re: SAIC business news

SAIC subsidiary approved to buy Shanghai Diesel Engine

September 13, 2008

Shanghai Automotive Co., Ltd. has gotten a nod from the China Securities Regulatory Commission (CSRC), the nation's securities regulator, for its acquisition of 241.7 million shares or a 50.32% stake in Shanghai Diesel Engine Co., Ltd. , the buyer announced on September 9.

Shanghai Automotive, a listed subsidiary under the aegis of Chinese auto titan Shanghai Automotive Industry Corporation (Group) (SAIC), is set to buy the shares from Shanghai Electric Group Co., Ltd., a mechanical and electrical equipment manufacturing giant in China, for CNY 923.42 million.

After the deal, Shanghai Automotive will become a controlling shareholder of Shanghai Diesel Engine, part of its parent company SAIC's efforts to grow into an international auto group with powerful core competitiveness.

Besides Shanghai Automotive, SAIC will have the other two listed affiliates such as Shanghai Diesel Engine and Shanghai Bashi Industrial Group Co., Ltd.

http://www.gasgoo.com/auto-news/1007...el-Engine.html

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