Jiangling Motors H1 sales up 66% to 88,363 vehicles

Shanghai July 16 (Gasgoo.com) China's automaker Jiangling Motors, a commercial van partner of Ford Motor, saw its vehicle sales in the first half of the year grow 65.7% from a year earlier to 88,363 units, media reported this week.

The first-half sales included 25,227 Ford commercial vans, 34,157 Jiangling trucks, and 28,979 Jiangling pick-ups and SUVs. In the same period, Jiangling Motors' output increased 61.66% from a year earlier to 84,068 vehicles.

Jiangling Motors posted 62.54% and 140.8% year-on-year increases in first-half revenue and net profit to 7.68 billion yuan and 1.04 billion yuan, respectively, according to a company filing.

The company said its profit margin expanded in the first half due to increased sales and a decline in costs. It aims to sell 170,000 vehicles this year, and 200,000 next year.

Jiangling plans to invest 2.13 billion yuan ($147 mln) this year to build a new plant at the Xiaolan industrial zone in Nanchang, Jiangxi province, where Jiangling Motors is based. The project will have an annual capacity of 200,000 units of vehicles, with a maximum capacity of 300,000 units by 2015.

Ford's Transit produced by Jiangling Motors proved particularly popular commercial vehicles, taking the lead in China's high-end light commercial van segment.