Chinese automakers tabulated on 2018 Fortune Global 500 list

Shanghai (Gasgoo)- The Fortune Global 500 list, one of the most authoritative ranking presenting the business performance of companies worldwide, was officially released on July 19. The world's 500 largest companies on the newly-unveiled list generated $30 trillion in revenues and $1.9 trillion in profits in 2017. A total of 6 automakers from Mainland China entered into the list.

Apart from China FAW Group whose ranking remained the same as the previous year, the other five companies all achieved escalation in rankings to different degrees. Especially, Zhejiang Geely Holding achieved the biggest elevation with its ranking climbing 76 places to the 267th.

SAIC Motor

SAIC Motor was still the bellwether among Chinese automakers in terms of annual revenues and profits. The group moved up 5 places to the 36th with its annual revenue up to $128.8193 billion in 2017.

SAIC Motor achieved a 10.88% year-on-year increase with 3,520,018 vehicles delivered in the first half of 2018. The group's June sales reached 554,058 units, edging up 7.2% from a year ago. Sales of SAIC Volkswagen, SAIC GM and SAIC-GM-Wuling totaled nearly 3 million units. The self-owned SAIC Motor Passenger Vehicle posted sales of 359,007 units, soaring 53.67% over the previous year. 

Dongfeng Motor

Dongfeng Motor saw its ranking move up 3 places to the 65th with its revenue totaling $93.2938 last year.

From the sales performance of the first six months, Dongfeng Motor delivered 1.5101 million vehicles in total. Sales of Dongfeng Nissan and Dongfeng Venucia boasted year-on-year sales jump of 13.08% and 17.51% respectively, while Dongfeng Honda, Dongfeng Renault, Dongfeng Liuzhou, Dongfeng Passenger Vehicle Company all suffered year-on-year sales drop in the first half of the year.

BAIC Group

BAIC Group, ranking 124th this year, has entered the Fortune Global 500 list for 6 consecutive years. According to recent data, the state-owned automaker achieved a 9.5% revenue growth and a 17% profit increase in the first half of the year. Moreover, it delivered 1,203,000 vehicles from January to June with an increase of 7.6% from the previous year.

The group prioritizes the partnership with Mercedes-Benz and Hyundai to build high-end models. In addition, it speeds up the new energy vehicle strategy with more money and resources invested.

China FAW Group

China FAW Group maintained its ranking over a year ago. From January to June, the group posted a year-on-year sales growth of 7.1% with a total of 1,712,506 vehicles delivered. The Hongqi brand handed over 9,363 units for the first six months, among which over 3,000 units were delivered in June.

Xu Liuping, who chairs FAW Group, has been reforming the company's personnel structure and business modes since August, 2017 when he took office in FAW Car's parent company, and injects vitality to the group's operation.

GAC Group

Guangzhou Automobile Industry Group (GAC Group) was the second-fastest climber whose ranking was 36 places higher than that of the year-ago period. In the first half of the year, the group's cumulative car sales reached 1,016,779 units, climbing 5.53% over the previous year.

GAC group has been consistently cementing its competency in self-owned brands and new energy vehicles. It likely rolls out 2 all-new BEV (battery electric vehicle) models with 500km-plus mileage per year during 2019-2020. 

Zhejiang Geely Holding

Zhejiang Geely Holding Group moved up 76 places to the 267th, boasting the largest ranking elevation among the 6 automakers and entering the list for 7 consecutive years. Geely Auto delivered 766,630 vehicles (including the Lynk & Co) through June, leaping 44% year on year and completing 49% of its annual sales target 1.58 million in 2018. Furthermore, Geely Auto's net profit in the first half of 2018 would surge over 50% compared with the corresponding period in 2017, the automaker forecasted recently.