Shanghai Auto's Q3 net profit more than doubles


SHANGHAI, Oct 29 (Reuters) - Shanghai Automotive Co Ltd , owner of a fifth of General Motors Corp's car plant in the city, said on Wednesday net profit in the third quarter soared 140 percent on booming demand. Earnings rose to 484.57 million yuan ($58.54 million) in the July to September period from 202.01 million yuan a year earlier, while revenue rose 22.8 percent to 1.8 billion yuan. Analysts said cut-throat competition in the world's fastest-growing major car market had forced ...

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