Gasgoo.com (Shanghai July 23) - Jianghuai Automobile has joined the list of manufacturers that have officially announced their sales results for the first half of the year. According to its performance review, which was cited in a report appearing on auto.ifeng.com today, JAC earned a net profit of 500 million yuan ($80.94m) over the first six months of the year. The amount represents approximate year-on-year growth of 60 percent. The manufacturer's sales for the time period totaled 274,000 units, up 21 percent from a year ago.
Around the end of 2012, JAC's passenger automobile division announced its two-brand strategy, with the goal of concentrating its resources among its two key brands, Refine and Heyue. Since then, JAC has focused on increasing sales of its profitable Refine models while, at the same time, increasing profit margins of its popular Heyue models.
The Refine brand of minivans and JAC's trucks were the manufacturer's most profitable models this year. Sales of JAC minivans and trucks experienced year-on-year growth of 7.2 percent and 18.2 percent, respectively. Year-on-year growth rates for the two segments in June reached 11.1 percent and 35.5 percent, respectively. Monthly sales of JAC's new urban SUV, the Refine S5 (pictured), have managed to reach 3,000 units. Sales of the S5 and JAC's other models are expected to reach new heights in the coming months.
Also notable was sales growth of 14 percent for JAC's Tongyue sedans. JAC responded promptly and appropriately to a minor controversy regarding poor chassis construction in its pre-2012 sedans, minimizing the amount of harm the news would otherwise have done to its brand image.
