Sales of Shanghai Automotive in September increased by 16% year-on-year to 376,800 units

China's largest auto company, Shanghai Automotive Group Co., Ltd. announced sales and sales bulletin on Tuesday. In September, subsidiaries of various subsidiaries achieved a total of 376,800 vehicle sales, an increase of 16.06% over 324,700 units during the same period last year.

Shanghai Automobile also stated that it has sold 2.979 million cars in the first nine months of this year, an increase of 11.85% over the same period of last year.

According to express reports, in September, Shanghai Volkswagen's two main passenger vehicle manufacturers, Shanghai Volkswagen sales for the month was 110,300, an increase of 15.09%; and Shanghai GM sales of 118,400 units this month, an increase of 17.42%. .

Shanghai Volkswagen is a joint venture between SAIC and Volkswagen AG. In the first nine months, it achieved sales of 859,600 units, an increase of 19.96%. Shanghai General Motors, a joint venture between SAIC Motor and General Motors, has sold 927,300 units in total during the same period, a year-on-year increase of 24.95%.

Shanghai Automotive Passenger Vehicles, which is responsible for its own brand production under SAIC Motor, sold 120,400 vehicles in the first nine months, a slight increase of 0.08% year-on-year.

At the end of last year, the Chinese government cancelled tax incentives for purchase tax on vehicles with 1.6 liters and below of passenger cars in order to cool down the hot Chinese auto market. Since then, Chinese auto makers have struggled.

Shanghai Auto closed at 15.18 yuan on Monday, up 2.02% in a month.