MG Sales Hurt by SAIC Personal Changes - Just British
The sales of MG-branded cars has been badly hurt by the personnel changes at Nanjing Automobile (Group) Corp. Statistics show that MG’s monthly sales volume during the first five months of this year was not more than 400, compared with a monthly sales of about 800 units from September to December 2007. It is the frequent personnel changes Shanghai Automotive Industry Corp. (Group) (SAIC) launched in senior management of Nanjing Automobile that leads to the poor sales of MG, pointed out industry experts. SAIC, parent of Shanghai-traded SAIC Motor Corp. Ltd. (SHSE: 600104), inked a contract to acquire Nanjing Automobile from Yuejin Motor (Group) Corp. at the end of December 2007. After the deal, SAIC launched a series of personnel changes on the senior management team of Nanjing Automobile. It appointed Huang Keji, a top executive with Shanghai GM Dong [...]