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Dongfeng Motor sees turnover surge

BEIJING, April 22 -- Dongfeng Motor Group Co Ltd, the mainland's third largest car manufacturer, saw its turnover surge to 41.7 billion yuan (US$5.2 billion) in 2005, an increase of 27.5 per cent year- on-year.
The Hubei-based company reported that its sales volume amounted to 595,000 units in 2005, 40.7 per cent up from the previous year.
Its market share in the mainland's car market increased from 8.3 per cent in 2004 to 10.3 per cent in 2005.
The company saw its sales of passenger vehicles amount to 351,219 units in 2005, shooting up by 98.5 per cent from the previous year.
Sales of passenger vehicles produced by its three joint ventures - Dongfeng Nissan, Dongfeng Peugeot Citroen and Dongfeng Honda - grew by 139 per cent, 58 per cent and 151 per cent respectively in 2005.
Dongfeng Motor's net profit also soared by 21.3 per cent to reach 1.6 billion yuan (US$200 million) in 2005, exceeding its own forecast of not less than 1.5 billion yuan (US$187.5 billion) announced when it launched its public offering in Hong Kong at the end of 2005.
Xu Ping, chairman of Dongfeng Motor, felt satisfied with the company's results in 2005, describing them as "inspiring ones" that marked a good beginning. The achievements came despite overcapacity and price wars.
The company is expected to launch at least 10 types of passenger vehicles by 2008, with two to three new models annually introduced by Dongfeng Peugeot Citroen and Dongfeng Nissan, and one to two new models from Dongfeng Honda Automobile every year.
Donfeng Motor will remain keen on developing commercial vehicles such as heavy and light vehicles.
As the largest maker of heavy vehicles and with the second-largest market share for light vehicles on the mainland, Dongfeng Motor is about to introduce a series of new commercial vehicles.
"We will further strengthen our heavy and light vehicle segments in the next three years by introducing more new models into the local market," Hu Xindong, a managing director of the company told China Daily.
Hu said to sustain the company's expansion, Dongfeng's capital expenditure for 2006, 2007 and 2008 would amount to a total of 20 billion yuan (US$2.5 billion).
As for development in 2006, Xu expected his company's growth rate to be quicker than the average growth rate of China's car market.
Xu indicated that there would be no big price cuts in 2006 and that a weakening steel price would help the company to further extend its profit margin. (Source: China Daily)
 

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Dongfeng Auto said it sold 62,940 vehicles in the first half, up 10% from a year earlier. Its engine sales fell 16% to 47,867 units over the same period.
Dongfeng Auto has a 50-50 diesel engine manufacturing joint venture with Cummins Inc. (CMI) of the U.S.
A joint venture between Dongfeng Motor Corp. and Japan's Nissan Motor Co. (NSANY) controls 70% of Dongfeng Auto.
-Rose Yu and Zheng Jin contributed to this story, Dow Jones Newswires; 8621 6120-1200; [email protected]
 

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Discussion Starter · #3 ·
JVs boost Dongfeng earnings

Tian Ying
2006-08-29
DONGFENG Motor Group Co, the largest publicly traded Chinese automaker, said first-half profit rose 69 percent on higher sales at its ventures with Nissan Motor Co, PSA Peugeot Citroen and Honda Motor Co.

Net income increased to 1.11 billion yuan (US$139 million), or 0.13 yuan a share, from 660 million yuan, or 0.11 yuan, a year earlier, the automaker, based in Wuhan in central China, said in a Hong Kong stock exchange statement yesterday. Sales rose 9.9 percent to 23.3 billion yuan.

Dongfeng Motor's three car ventures sold more vehicles as they introduced new models and offered discounts, according to Bloomberg News. The ventures' combined unit sales rose almost 50 percent in the first half, according to the China Association of Automobile Manufacturers.

Dongfeng Motor's first-half operating profit, or sales minus the cost of goods sold and administrative expenses, rose 39 percent to 1.71 billion yuan, it said.

Dongfeng Honda Automobile Co began making Civic compacts in March and sold more than 6,000 of them by the end of June, Honda said last month. The model helped Dongfeng Honda Automobile Co increase its unit sales by more than half.

Previously, it made only CR-V sport-utility vehicles.

Dongfeng Peugeot Citroen Automobile Co introduced the Peugeot 206 compact in January, the C-Triomphe sedan in March and the 307 compact in May. PSA Peugeot Citroen aims to boost its sales in China about 40 percent this year to 200,000 vehicles.

The French carmaker is "confident" it will return to profit in the country this year after two years of losses at its venture with Dongfeng, Claude Satinet, head of its Citroen unit, said in February.
http://www.shanghaidaily.com/art/2006/08/29/290417/JVs_boost_Dongfeng_earnings.htm
 

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Navistar Subsidiary Signs Agreement with Dongfeng

Navistar Subsidiary Signs Licensing Agreement with One of China's Largest Diesel Engine Makers
WARRENVILLE, Ill.--Dongfeng Chaoyang Diesel Co. (DCD), one of China’s largest diesel engine makers, and MWM International Industria De Motores Da America Do Sul Ltda.(MWMI), a subsidiary of Navistar International Corporation today announced that DCD has been licensed to manufacture and sell select diesel engines in China.
Under the licensing agreement, an MWMI affiliate and DCD will establish strategic cooperation in the areas of engine development and vehicle application for diesel engines on Chinese vehicles.
Specific terms of the agreement are not being disclosed by either company, and the agreement is subject to Chinese Government approval.
“I consider this strategic cooperation with DCD a big step forward in our growth strategy of utilizing our assets and what others have developed as we tap the growth markets in China,” said Daniel C. Ustian, Navistar chairman, president and chief executive officer. “This aligns with our strategy of providing great products to our customers, and a competitive cost structure to assure profitable growth for investors.”
Initial estimated annual volumes are expected to be 40,000 to 50,000 engines per year and start of production is forecasted in early 2008. The agreement may be extended to other engine families and other countries in the region.
“This agreement broadens our lineup and gains us valuable strategic global partners,” said Mr. Zhao Zhuang, president of Dongfeng Chaoyang Diesel Co. “As a major diesel engine maker in China, we will continue to provide our customers with the world’s leading lineup of light commercial vehicle diesel engines.”
MWMI produces a broad line of medium and heavy duty diesel engines ranging from 50 to 375 horsepower for use in pickups, SUVs, vans, light, semi and heavy trucks, and buses as well as agricultural, marine and electric generator applications. OEM customers include a number of the most important corporations in the automotive, agricultural and industrial segments, including Ford, General Motors, Land Rover, Volkswagen, Volvo, Nissan, CNH and AGCO.
“The acquisition of MWMI last year broadens our global offering of engines and helps us to execute our growth strategy,” said Jack Allen, president, International Engine Group. “Our licensing agreement with DCD reflects International Truck and Engine Corporation’s stepped-up global sales and marketing efforts to grow our business around the world.”
“We are establishing this strategic cooperation to use each other’s strengths,” said Waldey Sanchez, president and CEO of MWMI. “Our ability to grow outside of Brazil, share our technology and leverage our products to serve Euro certified markets is important, and our agreement with DCD reinforces the value we offer global markets.”
International Truck and Engine Corporation, through its affiliated companies is the world's leading diesel engine maker across the 50 to 375 horsepower range. In North America, International and its affiliates have nearly 50 percent share of the diesel pickup engine market, and 40 percent of the market for medium-duty commercial trucks and buses. In South America, International and its affiliates have more than 50 percent market share in the mid-sized pickup/SUV segment and accounts for nearly 40 percent of all diesel engines produced.
Navistar International Corporation is the parent company of International Truck and Engine Corporation. The company produces International® brand commercial trucks, mid-range diesel engines and IC brand school buses and is a private label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. A wholly owned subsidiary offers financing services. Additional information is available at www.nav-international.com.


source:http://www.theautochannel.com/news/2006/09/28/023391.html
 

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China's Dongfeng Auto Q3 net profit up 32.15 pct on higher sales of engines

BEIJING (XFN-ASIA) - Dongfeng Automobile Co Ltd's third-quarter net profit was 84.14 mln yuan, 32.15 pct more than a year before because of increased sales of diesel engines, the company said.

The company is the listed unit of Dongfeng Motor Corp. It makes light trucks, diesel engines and castings.

Dongfeng Automobile said in a statement to the Shanghai Stock Exchange that it had sold 31,045 vehicles in the third quarter, 31.77 pct more than a year before.

Sales of diesel engines rose 63.29 pct to 23,632 because of rising domestic sales of heavy trucks.

Core revenue rose 37.09 pct to 2.45 bln yuan.

Earnings per share rose to 0.042 yuan from 0.03 yuan.

The company gave no forecasts of earnings for this year.

Its assets were 10.48 bln yuan at the end of last month, 7.56 pct more than at the end of last year.

Dongfeng Automobile has a 50-50 joint venture with Nissan Motor Co and a 50-50 joint venture with Cummins Inc of the US.



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China's Dongfeng, Minth mulling stakes in US auto parts firms

BEIJING (XFN-ASIA) - Dongfeng Motors, which has a 12.6 pct share of the Chinese auto market, and car parts maker Minth Group are among a number of vehicle companies looking at acquiring assets from distressed US vehicle suppliers Delphi Corp and Visteon Corp, the South China Morning Post reported, citing an industry source.

'We do have a process that we are undergoing but we are not confirming specific companies we are in talks with,' the Hong Kong newspaper cited a Delphi company source as saying.

Delphi's US operations filed for bankruptcy last year and the company in March announced that it would sell or close its brakes, catalyst, instrument panel, door and steering units. These sales are expected to be completed by the end of next year, the newspaper added.
 

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Dongfeng Motor Co, Industrial news

Japanese exterior component manufacturer Faltec has secured its first order from Dongfeng Motor Co. To supply components to the OEM, Faltec is building a manufacturing plant in China, Automotive News China has reported.
 

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Nippon Express ties up with Dongfeng Motor

Japanese logistics company Nippon Express says it has linked up with a transportation subsidiary of Chinese automaker Dongfeng Motor, targeting growth in the Asian region.

Nippon Express said it had started shipping auto parts for Dongfeng Cummins Engine Co.
The Japanese company believes this is the first such tie-up with a shipping company affiliate of a Chinese automaker.

Nippon Express will initially offer shipping services for 13 component parts suppliers in Hubei province and expand the operation to other auto-related sectors in China
 

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Dana Corporation and Dongfeng Motor Co. Ltd. Proceed with Joint Venture

The companies renegotiated their March 2005 agreement because Dana filed for Chapter 11 bankruptcy protection in March 2006.
Dana said Monday its Dana Mauritius Ltd. unit agreed to initially pay about $5 million to acquire 4% of the venture, Dongfeng Dana Axle Co. This part of the transaction is expected to close by the end of this month.
Dana Mauritius will acquire another 46% of the venture after April 1, 2008, but within three years from when it receives government approvals for the amended agreement.
 

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Dongfeng sold 1.02 million vehicles in first 11 months

Dongfeng Motor sold 1.02 million vehicles in first 11 months of 2007.

Shanghai. December 17, 2007 - Dongfeng Motor Group, China's third-biggest auto maker, sold 1.02 million vehicles in the first eleven months, exceeding the company's one million sales target set at the beginning of the year, the company announced in its monthly sales report.

The company’s sales report shows that 70 percent of vehicles sold in the first eleven months are passenger vehicles while 30 percent are commercial vehicles. This is a complete reversal of the percentage situation from five years ago.

Founded in 1969, Dongfeng Motor Corporation (DFM) is one of China’s three biggest automakers—the other two being FAW and SAIC. The company's product portfolio covers almost all segments of commercial vehicles and medium-low end cars.
source: Gasgoo.com
 

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China auto maker to develop hydrous ethanol engines

China auto maker to develop hydrous ethanol engines
(Xinhua)
Updated: 2008-01-01 17:40


Dongfeng Motor Corporation, one of China's largest auto makers, has completed its initial research of using hydrous ethanol in automobiles.

The new technology could produce combustible gas, mainly hydrogen, from hydrous ethanol that contained 65 percent ethanol. The present ethanol-fueled vehicles needed pure ethanol blended with gas, the China Association of Automobile Manufacturers said.

Experts said producing 65 percent ethanol could save up to 60 percent of energy compared with producing the same amount of pure ethanol, as dehydration was energy-consuming.

The use of hydrous ethanol, unlike some synthetic fuels that required adapted engines, only needed an additional device to be fixed on present engines. Thus, it was more likely to be accepted by consumers.

The company planned to set up an ethanol-fueled car production plant by the end of 2008. This included a design and test center, as well as an assembly plant for ethanol engines.

The plant was expected to produce a small amount of ethanol cars by year-end.

http://www.chinadaily.com.cn/bizchina/2008-01/01/content_6362904.htm
 

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Dongfeng Auto 2007 profits up 9.5% on rising sales.

March 31, 2008 - Dongfeng Auto Co, a light commercial vehicle producer under China's third largest automaker Dongfeng Motor Group, on Saturday announced profits were up 9.5 percent last year on rising demand for trucks and diesel engines.

Gross profit reached 677.8 million yuan ($95.5 million), from 619.3 million yuan a year earlier, the Wuhan-based company said in a statement to the Shanghai Stock Exchange.

Net income rose 0.6 percent to 489.3 million yuan last year, it said. Per-share earnings rose to 0.245 yuan from 0.243 yuan in 2006.

Revenue surged 26.6 percent to 12.8 billion yuan after the company raised vehicle sales by 18.9 percent to 150,038 units during the year. About 76 percent were light trucks.

Dongfeng Auto, which is a partner of Japan's Nissan Motor Co, produces Nissan-brand sport-utility vehicles (SUV) mainly in a Zhengzhou plant. Its SUV sales soared 61.6 percent to 12,607 units last year.

Hong Kong-listed Dongfeng Motor Group and Nissan each owns 50 percent of the parent of Dongfeng Auto.

It also makes diesel engines with US engine giant Cummins Inc, with sales up 42.2 percent to 136,973 units last year.

Domestic vehicle production and sales both surged more than 20 percent to a record 8.8 million units last year, in contrast to weakening sales worldwide.

Light truck sales rose 16.2 percent to 1.1 million units last year, while SUV sales jumped 50 percent to 357,366 units, according to the semi-official China Association of Automobile Manufacturers.

The company said transportation demand would remain strong as the government tried to encourage consumer spending. China would also boost the incomes of farmers and build more roads in the vast countryside, it added.
source: Xinhua
 

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I dont like the use og ethanol. What has happed in America is that the price of corn has gone up so the price of pork and beef has gone up. We nedd to feed the people of the world before we worry whether they can drive.
 

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Dongfeng Motor March vehicle sales rise 41 pct.

April 11, 2008 - Dongfeng Motor Group Co's vehicle sales in China rose 41 percent in March from a year earlier, beating 24.72 percent overall growth in the world's second-largest auto market.

Dongfeng, China's third-largest automaker, sold 120,605 vehicles in March, it said in a statement on Friday.

Sales of passenger cars grew 41.35 percent to 71,661 units last month, while sales of commercial vehicles were up 40.62 percent at 48,944 units, it said.

From January to March, its passenger car sales rose 29.35 percent to 180,150 units, while sales of commercial vehicles were up 31.87 percent at 47,865 units.

Dongfeng's venture with PSA Peugeot-Citroen moved 23,373 cars in March, up 3.61 percent, after declines during the first two months of the year.

The French car maker blamed the falls on freak snow storms that battered many of the country's eastern and southern regions and blocked supplies of auto parts.

At Dongfeng's venture with Nissan Motor, car sales grew 34.99 percent to 31,845 units in March, while sales of commercial vehicles rose 30.36 percent to 47,834 units, Dongfeng said.

Sales at Dongfeng's tie-up with Honda Motor surged 70.48 percent last month to 16,443 units, it said.
source: Reuters
 

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Dutch Postal Company TNT to test Dongfeng Electric Vehicles in China .

Dutch postal company TNT NV yesterday launched a trial of China's first zero-emission electric delivery vans in Wuhan, capital of Hubei Province, in a cooperative agreement with Dongfeng Motor Co.

Two light electric trucks, each of which cost 300,000 yuan (US$42,860) in research and development, will be tested for six months, and the two companies are exploring the feasibility of expanding the use of such vans to other cities across the country.

"The trial launch of China's first two electric delivery vans is significant," TNT's CEO Peter Bakker said at the launch ceremony. "It will be the first market outside of Europe that TNT is bringing this trial, which will reduce CO2 emissions from our own delivery fleet."

The initiative is part of TNT's strategy to become the first zero-emission road and air transport company.

The vehicles are designed to run at most 80 kilometers per hour and capable of carrying a load of 1 ton.

"The battery, able to work for a year, supports vehicles to run 160km to 200km once fully charged, which is suitable for inner-city routes," Bakker said.

The two firms are expecting policy and funding support from the government.

"The government hasn't issued rules on regulating electric vehicles and we hope special policies can be mapped out to support such vehicles' normal operation," said Dongfeng Automobile CEO Zhu Fushou.

Zhu said R&D costs "are four times that of fuel vehicles and batteries also cost a lot."

TNT already runs several electric vehicles in the United Kingdom, the Netherlands, Belgium and Luxembourg. TNT successfully tested a 7.5 ton zero-emission electric truck in London for a year and is considering adding 50 more to its UK fleet.
Source: Shanghai Daily
 

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Dongfeng sees strong H1 sales growth of 30.59%

August 07, 2008

Shanghai, August 7 (Gasgoo.com) Dongfeng Motor Corp bucked the downturn of China's auto market in the first half of 2008 by selling as many as 724,700 vehicles, up 30.59% year on year (y/y), reported China Business News today.

From January to June, Dongfeng Motor Corp had the largest sales of vehicles in China. In the six-month period, the group sold a total of 724,700 vehicles while producing 719,100 units, up 22.4% y/y. Of the vehicles it sold, 477,900 units are passenger vehicles, up 25.26%, and 246,700 are commercial vehicles, up 42.30%, both much higher than the national sales growth rates (17% and 4% respectively).

The first-half sales achievements show that Dongfeng Motor Corp, now as the third biggest car-making group in China after SAIC and FAW, is narrowing its distance with the second largest carmaking giant FAW. In 2008, Dongfeng aims to sell 477,900 vehicles and achieve sales revenue of 180 billion yuan ($26.4 billion), with its net profit to exceed last year's.

Dongfeng Motor Corp operates many car-making joint ventures in China, including Dongfeng Peugeot-Citroen, Dongfeng Motor Co (with Nissan), Dongfeng Honda, Dongfeng Yueda Kia, Dongfeng Auto Co., Ltd (with with Cummins), Dongfeng Liuzhou and others.

http://www.gasgoo.com/auto-news/7356/Dongfeng-sees-strong-H1-sales-growth-of-30-59.html
 

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Dongfeng Motor to export 400 CNG vehicles to Thailand

August 8, 2008 - Dongfeng Motor will export 400 compressed natural gas (CNG) vehicles to Thailand this year, according to Shihua Financial Information.

At the vehicle delivery ceremony on August 6, Dongfeng Motor announced its plans to export 400 CNG vehicles to Thailand this year with each vehicle priced at 400,000 yuan ($58,224) besides the 35 CNG tractors this time.

The exported CNG tractors, as Dongfeng’s latest batch of special commercial vehicles, are developed to suit Thailand's environment and meet their particular demand, said Xu Ping, Dongfeng general manager.

Early in 2007, Dongfeng Special Commercial Vehicle Co. has signed an export deal with a Thailand company to jointly explore the Thailand market and extend the export to other southeast countries. In November 2007, the first 21 units of 280hp CNG tractors were successfully put into operation in Thailand by Dongfeng.

source: Gasgoo.com
 

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Emission rule slows July sales !

From:ReutersAugust 09, 2008
:eek: Dongfeng Motor Group (0489), China's third-largest automaker, said its vehicle sales growth slowed to a single-digit rate in July as stricter emission standards curbed truck sales.

The firm moved 71,854 vehicles in July, up 3.37 percent from a year earlier, with sales of passenger cars rising 18.46 percent but sales of commercial vehicles down 26.31 percent.

A Dongfeng executive blamed the weak truck sales last month on the introduction of Euro III emission standards on July 1, which spurred customers to make purchases before then.

http://yaqeenauto.spaces.live.com
 

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Dongfeng Motor to build auto parts remanufacturing base

September 18, 2008


Shanghai, September 18 (Gasgoo.com) Earlier this month, Dongfeng Motor said it plans to spend 200 million yuan ($29.19 million) building an auto parts remanufacturing trial base, according to Beijing Times today.

The Technique Policy of Recycling and Reutilization of Automotive Products issued by the NDRC (National Development and Reform Commission), China’s top economic regulator, required that the country should have 95% of its vehicles recyclable by 2017. To capture this huge market potential, Dongfeng Motor plans to invest 200 million yuan to build an auto parts remanufacturing trial base within three years.

The remanufacturing facility, covering 200,100 square meters, is expected to recycle 50,000 waste and old vehicles, 100,000 ton of scrap materials and also to remake 100,000 components, Zhu Fushou, general manager of Dongfeng Motor said.

http://www.gasgoo.com/auto-news/1007795/Dongfeng-Motor-to-build-auto-parts-remanufacturing-base.html
 
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