Changan sees October sales drop of 10.49%

Shanghai (Gasgoo)-Changan Automobile released October output and sales report on Nov. 6, revealing that it produced and sold 257,849 and 263,086 units respectively in October with year-on-year drop of 13.74% and 10.49%. During the previous nine months, Changan produced 2,257,170 units, down 7.01% year on year, and sold 2,321,290 units with a year-on-year drop of 6.80%. It is known that Changan Automobile was incapable to maintain its growth momentum as robust as that of in previous years and it witnessed output and sales sluggish from the beginning of 2017, due to the slowing growth of auto industry and the structure aging of part of its products. 

From January to September, Changan Automobile posted revenue of RMB 51.431 billion with a year-on-year drop of 4.06%, net profit attributable to shareholders of listed company reached RMB 5.811 billion with a decrease of 24.92% over the previous year. Among them, during July and September, Changan witnessed its profit dive of 47.07% year on year to RMB 1.19 billion.

Though facing the temporary plight this year, Changan Automobile still shows its great confidence in the future market. Changan’s vice president said that they will welcome a new round of their upgraded products and will introduce a variety of new self-owned models into the market. Meanwhile, Ford Motor Company also promised to add heavy investment on their JV company and will release a bunch of advanced green models. Therefore, Changan is capable enough to reshape its powerful market competitiveness via its industry-leading R&D capability.