China’s biggest automaker expects domestic car sales to pick up in second quarter

Business

FILE PHOTO: SAIC Motor Corp’s logos are pictured at its booth during the Auto China 2016 auto show in Beijing, China April 26, 2016. REUTERS/Kim Kyung-Hoon

BEIJING (Reuters) – China’s biggest automaker SAIC Motor (600104.SS) expects the nation’s auto sales to post year-on-year growth in the second quarter due to recovering demand and supportive policies, its chairman said on Friday.

With promotion and more premium products, SAIC is aiming for sales to outperform the overall Chinese market this year, Chen Hong, chairman of the Shanghai-based automaker, said in a written statement.

Chen added SAIC plans to roll out first product under Audi (NSUG.DE) marque in early 2022. SAIC Motor has partnerships with Volkswagen (VOWG_p.DE) and General Motors (GM.N).

Reporting by Yilei Sun and Brenda Goh; Editing by Shri Navaratnam

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