SAIC profit doubles

SAIC Motor, the country's largest automaker by sales, said net profit more than doubled in 2010 on robust sales growth.

SAIC posted a net profit of 13.73 billion yuan ($2.10 billion) last year, up from 6.59 billion yuan ($1.01 billion) in 2009. Revenue jumped to 312.48 billion yuan ($47.72 billion), from 138.88 billion yuan ($21.21 billion) in 2009.

The company sold 3.58 million vehicles last year, up 31.5 percent year on year.

Agencies