Chinese Automakers Profits are UP 66%
Submitted by Bill Belew on Monday, 20 August 2007No Comment
The year is only half gone and Chinese automakers have seen their profits grow 65.8% in the first half of the year.
China's 16 major automobile manufacturers made $3.98 billion in the first half of the year.
The car makers had revenue of $66 billion, up 26.58%.
China's big three FAW, Shanghai Automotive Industry Corp
and Dongfeng Motor each made more than 80 billion yuan ($1.1 billion).
The ten biggest earners, the big three + Chang An Automobile, Brilliance Auto, China National Heavy Duty Truck Group and Chery Automobile, sold a total of 4.15 million vehicles in the first half for an 83% market share.
Meanwhile…GM, Ford and DaimlerChrysler continue to restructure.
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