The Wall Street Journal reports SAIC Motor Corp., China’s largest auto maker by sales, Thursday reported sharply slower profit growth for last year as the country’s cooling economy has taken a toll on the industry.The Shanghai-based company, which produces cars with Volkswagen AG and General Motors Co., highlighted risks of a further slide in profitability in its earnings statement, citing the lackluster economy and head-to-head competition in the world’s largest auto market. SAIC said its net profit rose 6.5% from a year earlier to 29.79 billion yuan ($4.6 billion) last year. The growth is in contrast to a 13% rise it reported for the year-earlier period.
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