Profits of China Commercial Vehicles Makers Drop
www.chinatrucks.com: Recently China listed auto makers released their sales report in the first quarter, and many auto makers saw decreasing, especially the commercial vehicles makers. And their profits are decreasing even further on the base of last year.
891,500 commercial vehicles and 847,900 units were produced and sold in the first quarter, down 18.44% and 19.48% over last year, and the profits for most auto makers with their major business are commercial vehicles decreased.
As the market leader, Foton sold 135,300 units, down 21.5% over last year, and the net profits belonging to the listed company were 125 million Yuan, down 42.01% over last year.
Production and sales of Sinotruk decreased by 13.99% and 11.61%, and the net profits belonging to the listed company were 65 million Yuan, down 29.35% over last year.
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