China Car Times wrote:Two Chinese automotive industry associations recently revealed the net profit growth of the country’s top three auto groups last year. Their net profits for 2010 could be calculated based on the related statistics for 2009.
SAIC Group’s net profits in 2010 soared 79.23% to 46.723 billion yuan. FAW Group’s net profits last year surged 83.82% to 47.539 billion yuan. Dongfeng Motor Group’s net profits in 2010 increased 79.21% to 47.057 billion yuan. The total net profits of the three auto groups last year surpassed 140 billion yuan. Most of the profits came from their joint ventures.
The net profits of the three auto groups in 2010 are next only to Volkswagen Group. The high profitability of Chinese automakers could be attributed to high product prices and low costs.
China’s three auto groups earned 140 billion yuan last year
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China’s three auto groups earned 140 billion yuan last year
by Roverman Tue Jun 21, 2011 10:28 am
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