Cars

    Automaker profits surge in first quarter

    By Xiao Han (China Daily)
    Updated: 2010-05-17 13:10
    Large Medium Small

    BEIJING - Most domestic carmakers reported surging profits in the first quarter this year as sales boomed, but experts say the windfall is not likely to continue.

    According to statistics from the China Association of Automobile Manufacturers (CAAM), 17 major automakers had combined pre-tax profits of 82.4 billion yuan between January and March, a jump of 155 percent over the same period last year.

    SAIC Motor Co ranked No 1 among listed car companies with net profit of 2.9 billion yuan.

    The result was better even than BMW's full-year profit of 210 million euros ($279 million) in 2009.

    Chongqing Chang'an Automobile Co's first-quarter sales leapt 86 percent.

    FAW Car Co posted 182 percent increase in its first-quarter profit. Analysts said the surge is due to several factors including continued government incentives that boost sales in smaller cities, overall growth in the economy and recovery of car exports.

    Investment in the auto industry rose by 32 percent in the first quarter to 58.4 billion yuan, according to the CAAM statistics.

    Market data shows that in the first four months, vehicle sales in China reached 6.17 million units, up 61 percent from the same period last year. Analysts widely believe that full-year sales will increase by at least 10 percent to 15 million vehicles.

    Many carmakers are eyeing the huge market potential and expanding capacity in China.

    Sino-Japan joint venture Dongfeng Nissan Passenger Vehicle Co just began work on a new plant in Guangzhou earlier this month.

    German giant Volkswagen also plans to build two new plants in China and introduce more new models at an investment of around 6 billion euros ($7.98 billion) in the next three years.

    Related readings:
    Automaker profits surge in first quarter China's non-State automaker produces 2m cars
    Automaker profits surge in first quarter China automaker Geely inaugurates assembly line in Russia
    Automaker profits surge in first quarter Chang'an is third largest automaker
    Automaker profits surge in first quarter Chinese automaker SAIC denies technology theft

    But growth in car sales actually began to slow in April. Some 1.56 million vehicles were sold, a 10 percent decrease from March, according to CAAM.

    Prices of locally made passenger vehicles in March and April edged down slightly, according to a survey by the National Development and Reform Commission.

    Experts predict that automakers' profits are likely to reach their maximum in the second quarter and start to decline in the second half of this year.

    A senior analyst noted that shrinking tax-cut incentives will cool the small car market and increasing stockpiles will drag down vehicle prices and profits.

    The highly competitive market means an oversupply that will dampen sales and profits, he said.

     

    中文字幕无码久久精品青草| 精品无码国产一区二区三区AV| 人妻夜夜添夜夜无码AV| 日韩亚洲变态另类中文| 熟妇人妻无码中文字幕| 熟妇人妻无乱码中文字幕真矢织江 | 日韩亚洲国产中文字幕欧美| 无码av最新无码av专区| 中文字幕无码高清晰 | 免费中文字幕视频| 亚洲成?Ⅴ人在线观看无码| 无码国产伦一区二区三区视频| 合区精品中文字幕| 亚洲日韩乱码中文无码蜜桃臀网站| 国产精品99精品无码视亚| 亚洲爆乳精品无码一区二区三区 | 亚洲熟妇少妇任你躁在线观看无码| 无码精品日韩中文字幕| 国产成人无码一二三区视频| 日本精品久久久久中文字幕8| 最新中文字幕av无码专区| 久久午夜无码鲁丝片午夜精品| 久久av无码专区亚洲av桃花岛| 亚洲午夜无码久久久久| 无码爆乳护士让我爽| 亚洲毛片网址在线观看中文字幕 | 亚洲日韩中文字幕在线播放| 亚洲高清无码专区视频| 久久亚洲精品无码播放| 成人无码区免费A∨直播| 无码国产午夜福利片在线观看| 无码日韩人妻精品久久蜜桃| 亚洲国产精品无码av| 亚洲爆乳精品无码一区二区三区| 亚洲精品无码专区在线在线播放| 97无码人妻福利免费公开在线视频| | 国产精品中文久久久久久久| 影院无码人妻精品一区二区| 中文字幕人妻丝袜乱一区三区| 欧美日韩中文国产一区发布|