Shanghai Auto Plans to Reduce Costs
2009-02-04 Source：互联网
Shanghai Automotive Industry Corporation (SAIC) plans to gain nearly 1% more profits through cutting costs in 2009, as a measure to fight against the worldwide financial crisis that started last year.
The 1% profit is not only a target set for the parent, but also each affiliate. The leading automaker has filed a 2009 planning with the State-owned Assets Supervision and Administration Commission of Shanghai Municipal Government.
According to SAIC's plan, companies under its direct control will lift up their contribution margins by 1%, cut down structure cost by 1%, and lower material cost by 3%. In addition, investments will be reduced to save charges and labor cost, and raise capacity efficiency.
As a result, each SAIC affiliate will see the ratio of its structure cost to net sales revenues further dip 0.5 percentage points from the former target set by the company's board of directors.
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