Gasgoo.com (Shanghai March 28) - Chongqing-based automobile and motorcycle manufacturer Lifan Motors released its 2011 performance report today, Shanghai Securities News reported. According to the report, Lifan's total returns and net profit last year increased 27.46 percent and 2.19 percent, respectively. As the market for motorcycles contracted significantly in 2011, the manufacturer depended mainly on its passenger automobile business to maintain profit growth.
Beginning last year, Lifan began a comprehensive strategy of expanding its product lineup and sales network, with several new models introduced. The manufacturer also made great strides in tackling problems with limited production capability and poor quality auto parts. The manufacturer sold a total of 117,200 passenger automobile during the year, bringing in 4.74 billion yuan ($750.22m) in business returns. Returns from passenger automobile sales in 2011 were 28.66 percent higher than the previous year, compared to a 1.08 percent increase of those from motorcycle sales.
