SAIC Motor Q1 net profit quadruples to record high

Newswire

SHANGHAI, April 28 (Reuters) - SAIC Motor Corp , China's biggest automaker, posted a more than quadrupling in first-quarter net profit, as government policy incentives helped drive strong growth in car sales in the world's biggest auto market. SAIC, which runs car manufacturing ventures with General Motors [GM.UL] and Volkswagen , booked a January-March net profit of 2.88 billion yuan ($421.7 million), its biggest quarterly earnings ever. The result was largely in line with an average ...

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