Car maker SAIC expects rapid sales in 2013

Chinese car marker SAIC Motor (600104.SH) said its auto sales will grow at a faster pace than the vehicle industry in 2013, as the economy rebounds and Chinese consumers shun Japanese products due to an ongoing territorial dispute, Bloomberg reported. SAIC, a partner of US auto manufacturer General Motors (GM.NYSE) and German car producer Volkswagen (VOW.FRA, VOW3.FRA), expects a 7-8% increase in sales next year, said company President Chen Hong. The overall car industry is expected to grow 5%. SAIC makes Buick and Chevrolet cars with GM. “The company … benefits from the technology and association with its foreign partners,” said Xu Minfeng, an analyst at Central Securities Holdings. “If you strip out the influence of Japanese brands losing market share in China, SAIC might perform in line with the market,” he said.