Motor Vehicles and Parts News
- Auto industry may post US$13.5b profit
Date: 11-Dec-2007 Sources: (Shenzhen Daily)
THE domestic auto industry might post a combined profit of more than 100 billion yuan (US$13.5 billion) this year despite widespread discounting, Xinhua said yesterday, quoting Rao Da, head of the China Passenger Car Information Association.
Automakers have been using more locally produced components to help boost profitability, according to Rao. The average localization rate at venture assemblies is about 75 percent. Competition among domestic automakers had led to almost 40 billion yuan in profit erosion, according to Rao.
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