UPDATE 1-SAIC Motor expects sharp slowdown in China vehicle market

Newswire

(Adds comments from company president) SHANGHAI, May 27 (Reuters) - The outlook for China's car industry had turned to neutral from positive, weighed down by factors such as rising inflation and weaker consumer confidence, the top executive of SAIC Motor Corp said on Friday. President Chen Hong also said he expects the country's overall vehicle market to grow 7.4 percent this year to 19.7 million vehicles, slowing down after expanding by nearly a third in 2010. "The environment of ...

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