Auto industry catapulted in 2010
- Source: Global Times
- [11:20 January 19 2011]
- Comments
The result of the reviews by Chinese automakers, which were released recently, shows a huge jump in profits in 2010.
The net profit of Ankai Automobile Co., Ltd. cornered on 73.24 million yuan ($11.12 million), up 201.35 percent from 2009, and its earnings per share raised 0.239 yuan ($ 0.03), up 202.53 percent.
The main reason for the feat is attributed to its expanding of market and its auto parts companies' sales growth, according to the company.
JAC Motors also doubled its net profit in 2010, up 240 percent from last year.
Zhongtong Bus and Holding Co., Ltd stated in its review a net profit of extra 85 to 100 percent in 2010.
SAIC Motor Corporation, Ltd. said in its sales report in January that sales volume reached 3.58 million units, up 31 percent.
Chang'an Automobile (Group) Co., Ltd. sold 1.85 million models last year, up 35.2 percent.
According to the data released by BAW, the company manufactured 1.504 million vehicles, up 18.3 percent from 2009, 1.501 million of which were sold.
Rao Da, general secretary of National Passenger Car Information Exchange Association said that it is easy to understand such phenomenon in 2010 as costs in the whole auto industry trimmed and capacity utilization rate raised.
