AM Online

SAIC issues profit warning

Shanghai Automotive Industry Corporation has issued a profits warning, according to a report in the Financial Times.

The Chinese manufacturer, which is developing a Rover 75 derivative for launch next year, has warned that its first half profits may drop by 50%.

Pressure on car prices, rising raw material costs and weaker demand for its cars were the reasons cited for the drop in profits.

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Comment as guest


Login  /  Register

Comments

No comments have been made yet.