Profits of major Chinese automakers reached RMB 12.754 bn

Reports from National Auto Industry Association shows that accumulated profit margin of sixteen major automakers in China reached 12.754 billion yuan in the first quarter, up 69.9% y-o-y. Except Changhe Automobile, all the fifteen auto enterprises have made a profit.

Operating profit of the sixteen major automakers increased by 36.61% y-o-y to 229.803 billion yuan, leaded by Geely Automobile with an increase rate of 194.16% y-o-y. Operating profit of National Heavy Duty Truck Group Corp (CNHTC), Brilliance Automobile, Guangzhou Automobile Group, FAW Group Corporation, Southeast Motor and Chery Automobile have surged by 87.02%, 79.13%, 76.13%, 62.73%, 55.45% and 53.65%, respectively; Operating profit of Anhui Jianghuai Automobile, SAIC as well as Dongfeng Motor Corporation have also climbed 27.68%, 25.47% and 19.24% while Hafei Automobile and Changhe Automobile saw a slight profit drop of 0.60% and 1.07%.

Profit increasing rate of Geely Automobile, CNHTC and Chery Automobile were up 2891.62%, 545.14% and 410.68%. Brilliance Automobile, Nanjing Automobile Corp and Southeast Motor have recently turned into a profit and Changhe Automobile lost less money in March than before.