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PrintEmailOrder ReprintsMarch 31, 2011 11:38 AM EST
China's largest automaker SAIC Motor Corp said on Wednesday its fourh-quarter net profit rose 58.4 percent from a year earlier on strong car sales in the world's largest auto market.
SAIC booked October-December net profit of 4.15 billion yuan ($632 million), compared with 2.62 billion yuan a year earlier, it said in statement.
REUTERS
A man walks in front of the gate of Shanghai Automotive Industry Corp. in Shanghai November 18, 2010. SAIC Motor Corp is still deciding whether or not to participate in General Motors Co increased initial public offering, the China Securities Journal reported on Thursday quoting industry sources.
The results beat a consensus forecast of 3.68 billion yuan from three analysts polled by Reuters.
SAIC said in January it expected a more than doubling of its net income for 2010 after its annual vehicle sales increased 31.5 percent to 3.58 million units.
SAIC operates car manufacturing ventures with General Motors and Volkswagen.
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