Friday, March 24, 2006

China's saloon cars output in first two months surges by 83%


Beijing: China's saloon cars output in the first two months of this year surged 83 per cent to 604,700 units as compared to the same period last year, the government said here today.The revenue of China's saloon car manufactures also jumped 38.2 per cent during the period, with over three times as many profits as the previous year, the National of Bureau of Statistics (NBS) said.Stimulated by the Chinese government's favourable policies, the low-emission cars were under spotlight for the first two months of this year. The government has also announced that from April one, cars with an engine of two litres will enjoy lower sales tax of three per cent compared to the five per cent now.Sources from the NBS said the low-emission car output during the January-February period in China's major auto bases located in Shandong and Guangxi all doubled that of the same period of last year.The output and sales of local-brand saloon cars also grew rapidly, said the NBS. China's Chery Company has jumped to second position in China's top 10 auto brands, surpassing many noted foreign auto brands.But the NBS said the profits of auto companies in the first two months of this year is not beyond expectations, as the benchmark profits in the same period of last year was the lowest in recent years.The NBS predicts that China's auto companies will face a low-speed growth in profits in the second quarter, but their profits will increase.
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