SAIC Motor, China’s largest car maker, expects its automobile sales to grow at least 10% this year from 1.05m units sold last year, the company’s president told Reuters on Tuesday.
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SAIC’s decision on when to launch an initial public offering depends on the state of the stock market and the automotive industry, as well as the company’s development, president Chen Hong told the news agency, which noted that he didn’t specify a timeframe or whether the company planned to list on a domestic or overseas market.
Reuters noted that SAIC mainly makes sedans through its joint ventures with General Motors and Volkswagen.
“This year has only just started and we have to see how it goes, but sales should rise by at least 10% or more,” Chen reportedly said.
