China’s Automakers Make More Money Than America’s Big Three Combined
Of course, I made more money, that is profits, than the Big Three combined, too. GM, Ford and Chrysler are losing money.
China's carmakers turned a 76.8 billion yuan ($10 billion dollar) profit in 2006 on the sale of 7.22 million autos, up 46% and 25% respectively.
China's sold all but about 60,000 of the autos they produced last year. The percentage of manufactured cars was up 27%.
China expects to sell more than 8 million cars in '07.
Though automakers are making money, the same cannot be said about dealerships.
Of the 1,800 dealers in the nation, 700 were in the red and another 20% are about to go under.
China has about 1,500 registered automakers, but less than 100 of them are able to sell more than 10,000 cars.
So, if America's carmakers are called the Big Three….are China's called the little 1,400?
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