SAIC Motor Corp., China’s largest carmaker, led gains by Chinese automakers on speculation sales increased last month.

SAIC Motor jumped 8.2 percent to 19.90 yuan at the 3 p.m. close in Shanghai, the highest since Nov. 9. FAW Car Co., which makes passenger cars in China with Volkswagen AG, gained 4.8 percent to 17.18 yuan. The benchmark Shanghai Composite Index rose 0.7 percent.

“Historically, March has always been one of the months with the highest car sales,” said Han Weiqi, an analyst at CSC International Holdings Ltd. in Shanghai. “That’s as businesses start planning for and buying new cars after Chinese New Year ends, and also as consumers make auto purchases before the April and May long weekends.” Han estimated a 10 percent increase in auto sales last month from a year ago.

The China Association of Automobile Manufacturers is scheduled to release March auto sales figures over the weekend. Sales increased 2.6 percent in February, the slowest pace in more than two years, the association said last month.

Preliminary data showed sales rose in March. Passenger-car sales increased 8 percent from a year earlier to 1.24 million units, China’s Passenger Car Association said today in a statement on their website.

The CPCA numbers are separate from those provided by the China Association of Automobile Manufacturers, which is the only automobile trade organization registered with the Chinese government.

March Sales

“March auto sales continued the growth trend in March,” said Zhang Xin, an analyst at Guotai Junan Securities Co. in Beijing. “The month-on-month growth rate is very significant given the lower base due to the holidays in February.”

SAIC Motor resumed trading this week after a suspension of almost two months. The automaker said on April 6 it plans to buy partsmakers and other businesses from its parent for 32 billion yuan ($4.9 billion) in stock to gain control of supplies and speed development of new models.

“For SAIC, there’s also speculation that the company will benefit from the plan on hybrid car development, which would add to its profits,” said Guotai’s Zhang.

Anhui Jianghuai Automobile Co., a unit of China’s biggest light-truck exporter, jumped 5.7 percent to 13.27 yuan. Jiangling Motors Corp., the Chinese commercial vehicle partner with Ford Motor Co., climbed 2.3 percent to 33.40 yuan.