Dongfeng Motor Q1 sales up 10% to 341,000 units

Shanghai, April 17 (Gasgoo.com) Dongfeng Motor Group Co. announced it sold 341,000 vehicles in the first quarter of 2009, up slightly by 0.57% year on year (y/y) and up 10% from the fourth quarter of last year, stimulated by China's auto industry stimulus plan, said xinhua.net today.

Of the 341,000 vehicles sold in the first three months, 259,000 units are cars and 82,000 units are trucks. In March, Dongfeng Motor sold 145,000 vehicles, posting a nearly 40% month-on-month growth.

The automaker's stable growth in the first quarter was helped by its three strong subsidiaries, with Dongfeng Nissan sales increasing by 28.9% y/y to 96,000 vehicles, Dongfeng Honda sales rising 5.1% to 43,000 vehicles and Dongfeng Yu'an's mini vehicle sales up 81% to 35,700 units.

As the hot-selling low-emission cars and mini vehicles make low profits, and the profitable medium- and high-end sedan post moderate sales currently, the sales value of domestic automakers grew smaller than their sales volume, analysts said.

Dongfeng Motor hasn't reported its sales value yet.