Jianghuai Auto Group Jan-Nov profit grows 131.2%

(chinatrucks.com, Dec.30, 2009)Anhui Jianghuai Automobile Group, an automaker based in central China's Anhui province, made a profit of 456 million yuan ($66.77 mln) in the first 11 months, up 131.2% from a year earlier, SinoCast reported on Dec 28.

The auto group, parent of Anhui Jianghuai Automobile Co., Ltd. (JAC), sold 297,000 vehicles and achieved sales revenue of 21.15 billion yuan, up 49.7% and 24.7%, respectively, in the Jan-Nov period. Its full-year sales are predicted to hit 320,000 vehicles, promising sales revenue of more than 23 billion yuan.

In the first three quarters of 2009, Jianghuai sold 121,446 light-duty trucks, including 115,000 in the domestic market, surging 46.4% year on year to 115,000 units, said earlier reports.

The company sold 100,000 passenger cars in the Jan-Oct period, two months ahead of its original plan. The full-year sales will exceed 120,000 units, almost double last year's sales. It expects to sell 300,000 passenger cars in 2010.

Anhui province has intended to promote the merger between JAC and Chery, which are separately good at the commercial vehicle and passenger car sectors. However, this scheme has drawn little interest from both companies.

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