Wuxi Diesel Engine 2013 Annual Profit Increased by 96%

In 2013, despite the complex and competitive market environment, the major business of FAW Wuxi Diesel Engine Factory experienced steady growth with its diesel engines sales up by 9%, the main business income increased by over 15% year on year, profit rising 96%. The total asset turnover and current asset turnover, which are indicate the company’s operational capability, as well as per capita GDP and per capita income, which indicate the company's production efficiency, ranked first in the industry. Its main product, the Aowe 11-liter engine, occupied 47% of the domestic 11-liter engine market.

Last year, with the whole industry experiencing "slight growth", Wuxi Diesel Engine Factory promptly adjusted their development strategy to realize the transition from "quantitative growth" to "quality and profit growth". To put quality first, Wuxi Diesel Engine Factory promoted the "three guarantees", namely the guarantees of repair or exchange or return of products, to improve quality management. For its quality control, Wuxi Diesel Engine Factory increased the investment and made great efforts to eliminate errors through technical means. Besides, working with 41 suppliers, Wuxi Diesel Engine Factory improved the reliability of its 28 kinds of components, enhancing the product quality. "The market is a battlefield. We are trying to establish a high-end brand image through optimizing the product structure, the market structure and the vehicle structure."

Last year, the sales of FAW's diesel engines grew by 23%, off-road product 52.4%, fork lift 57.6% and generator set 63%. With its oversea marketing and service network and the new offices in South Africa and Chile, targeting the Western European and South American market, Wuxi Diesel Engine Factory achieved the export of nearly 15,000 engines to the high-end market.

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