Shanghai Automotive Industry Corp has raised its output target for this year to 500,000 units from 460,000 units. SAIC, which has joint ventures with Volkswagen and General Motors, sold 410,000 units in 2002. The target increase followed good results in the first four months of 2003, with sales in April alone rising 33 per cent year-on-year to 46,800 units. Total vehicle sales in the city were up 50 per cent in April.
A fear of travelling on public transport because of the Sars virus was cited by car dealers as one reason for the upturn. Other factors included the introduction of new models and a fall in prices since last year.