beijing (Bloomberg) — SAIC Motor Corp., China's largest carmaker, said net income probably tripled in 2007 after the company expanded.

Net profit in 2006 was 1.4 billion yuan ($197 billion), or 0.218 yuan a share, the company said in a statement to the Shanghai Stock Exchange.

SAIC Motor was transformed from an auto-parts maker after it bought 19.1 billion yuan of assets from its parent in late 2006. The expansion helped boost its sales by 26 percent last year to 1.69 million vehicles, the company said in a January 9 statement.

China's listed companies are required to make an announcement if they expect earnings to rise or fall more than 50 percent in a reporting period.

Chinese automakers appeared to take one step closer to entering the coveted US market as a record five companies exhibited at the North American International Auto Show in Detroit this week.

A US-China venture also said it would begin importing what would be the first Chinese-made cars some time this year.