Profit at Major automakers totaled RMB18.1bn Jan- April

Profit margin of China's major auto enterprises has flattened in the first four months compared to the first quarter. Total profit margin in the first four months were 18.1billion yuan, up 51.32 percent y-o-y but was 18.58 percent lower than that of the first quarter; accumulated pre-tax reached 39.45 billion yuan, up 3.44 percent y-o-y and was down 5.04 percent compared with that of the first quarter; tax on major business climbed by 36.08 percent to 9.96 billion yuan and value-added tax went up by 10.76 percent to 11.38 billion yuan.

Profit almost doubled at Chery Automobile, National Heavy Duty Truck Group Corp (CNHTC) and Qingling Motor in the first four months, with a growth of 221.81%, 215.06% and 152.94%, respectively. Compared to the first three month, Qingling's growth surged by 112.72 percent while Chery and CNHTC saw a decline of 188.87 and 330.08 respectively.

Guangzhou Automobile Group, Shanghai Automotive Industry Corp. (Group) (SAIC), Nanjing Automobile Corp and Beijing Automotive Industry Holding Company (BAIC) saw profit increase by 71.07%, 57.13%, 53.63% and 49.57% respectively. BAIC and Nanjing Auto continue to advance, while Guangzhou Auto and SAIC saw a loss of 16.46 and 14.81 percent respectively.

FAW Group Corporation, Dongfeng Motor Company and Chang'an Automobile's profit increased by 4.60%、22.07% and 16.23%, with Changan up 12.40 percent and FAW, Dongfeng dropped by 1.30 and 2.93 percent compared with the forst quarter in terms of increasing rate.
       
Profit growth rate of Anhui Jianghuai Automobile was down 5.96% from January to April, 13.42 percent lower than the first quarter; both Brilliance Automobile and Geely Automobile experienced a profit drop during this period; Hafei Automobile have turned into a profit while Changhe Automobile lost more money in fourth month than before.