CPCA: sales of passenger cars will increase 13% in 2016

CPCA: sales of passenger cars will increase 13% in 2016

Shanghai securities News reported on 8th November that, “The growth of China’s auto market this year is beyond our expectation”. Cui Dongshu, the secretary-general of CPCA has recently said that, sales of passenger cars of China in 2016 will increase about 13% year-on-year, while that of the overall vehicles(passenger cars and commercial cars) will achieve a growth of 10%-12%. This new sales expectation has been doubled from the 6% growth predicted by China Automobile Dealers Association and China Association of Automobile Manufacturers at the beginning of the year. And data from various auto companies showed that, self-owned brands has been the biggest impetus for sales growth doubled.

Senior executives from several auto companies disclosed that, self-owned brands become the biggest impetus for the growth of sales and profit of Automotive Groups, and part of the independent-brand auto companies contributed the most to their parent companies (state-owned automobile groups). What’s more, self-owned brands have also been the highlight of the profit growth of listed automobile enterprises.

The net profit of BYD in 2016 is expected to be 5-5.2 billion yuan. To estimate from its net profit(3.66 billion yuan) of the first three quarters of this year, the profit of the fourth quarter will be about 1.4 billion yuan, 60% increased year-on-year. The results of BYD showed that, the company has achieved a revenue of 72.8 billion yuan in the first three quarters of this year, 50.12% increased a year earlier; net income of its parent company was 1.66 billion yuan, increased by 86.82% year-on-year.

JAC(13.030,0.35,2.76%) attract people’s attention for its reversal of profit in a single quarter. Data shows that, JAC’s profit of the third quarter has surged 114%, reversing a decline of profit in the second quarter of this year. In the third quarter, JAC gained a revenue of 11.7 billion yuan, increased by 13% year on year while that of the second quarter was 1.48%. Net profit of shareholders of the listed company was 0.24 billion yuan, a year-on-year growth of 114% while that of the second quarter declined 4.91% compared with a year earlier.

Revenue of SAIC’s(23.600.0.40.1.72%) first three quarters in 2016 has reached 531.6 billion yuan, a year-on-year growth of 11.7% while the net income achieved 23.1 billion yuan, increased by 8.6% compared with the same period of last year. SAIC has a bright future for its profit growth.