Chinese Automaker SAIC Predicts Slower Growth

Newswire

SHANGHAI, March 27 (Reuters) - China's biggest automaker SAIC Motor Corp forecast revenue growth would halve in 2014 from last year to about 8 percent and warned a recovery in the industry remained fragile due to overcapacity and cut-throat competition. SAIC, which owns ventures with Volkswagen AG and General Motors Co, said it aimed to generate 609 billion yuan ($98.08 billion) in revenue this year, against 563 billion yuan last year. "In the next few years, China's auto ...

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