Changan Auto celebrates prominent performance in Q3

Beijing (Gasgoo)- Changan Auto celebrated an outstanding performance result in the past quarter of this year, while its year-to-date export volume surpassed the 100,000 vehicles milestone.

The UNI-K; photo credit: Changan Auto

The company’s third-quarter financial report showed that Changan Auto received RMB22.415 billion ($3.5 billion) in revenue. The carmaker saw a 42.98% year-on-year surge in net profit attributable to shareholders to RMB1.264 billion ($197.35 million), up 44.29% versus the previous quarter.

After non-recurring deductions, the company's net profit amounted to RMB1 billion ($156.13 million), soaring 92.8% compared to a year ago and increasing by fifty times than the previous quarter.

Thanks to the booming auto sales of the company, for the first nine months of this year, Changan Auto managed a 41.83% increase in cumulative revenue year on year, totaling RMB79.2 billion ($12.37 billion). 

With 1.732 million vehicles sold, the carmaker saw a 26.4% year-on-year increase in cumulative sales for the first three quarters this year. At the same time, Changan Auto’s wholly-owned brands managed a 30.6% surge in sales from a year ago to 1.35 million vehicles.

Moreover, the automaker said that it had exported over 100,000 vehicles from January to October.

As of now, Changan Auto has over 1.45 million intelligent connected vehicles on the road and plans to put in RMB150 billion ($23.42 billion) in the auto industry chain in the next five years.