Chinese car giant SAIC to lift output 15 pct in '03

Newswire

SHANGHAI, March 26 (Reuters) - Shanghai Automotive Industry Corp (SAIC), one of China's three largest domestic automakers, said on Wednesday it expects to produce 700,000 vehicles this year, up around 15 percent from 2002. SAIC sold 610,000 vehicles last year, including more than 410,000 cars, revving past longstanding leader First Automotive Works (FAW) -- which sold 580,000 vehicles in 2002 -- helped by buoyant demand in the world's fastest-growing major auto market. But SAIC aimed to ...

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