Shanghai Automotive Industry Corporation (SAIC) sold 4.01 million vehicles this year, up 11.9 percent over a year ago, China’s Xinhua news agency reported on Friday.
In November, SAIC reported a 13.3 percent increase in vehicle sales compared to the same month last year to 359,384 units.
Sales growth in China slowed this year after a strong 32 percent rise in 2010 as China discontinued a small-car tax incentive and imposed car purchase restrictions on Beijing residents. In order to stimulate innovation, SAIC, GM’s partner in China, set up research and development centers in Shanghai, Nanjing and Birmingham which together employ 2,000 people.
In 2012, SAIC will also unveil a plug-in hybrid car and an electric car, both under one of its own brands, Xinhua also wrote. SAIC’s range of brands include Baojun, MG, Roewe, Wuling, Yuejin and Maxus.