SAIC Motor expects China vehicle market to grow 7.4 pct this year-exec

Newswire

SHANGHAI, May 27 (Reuters) - SAIC Motor Corp expects China's overall vehicle market to grow 7.4 percent this year to 19.7 million vehicles, the company's top executive said on Friday. President Chen Hong also said the outlook for the country's car industry had turned to neutral from positive due to reasons such as rising inflation and weaker consumer confidence. SAIC, the Chinese partner of General Motors Co and Volkswagen AG , said in April that it would buy auto assets worth 28.6 ...

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