Net Profit of Foton Dropped by 44% in 2013
www.chinatrucks.com: Foton released its annual report on the evening of April 16. In 2013 the company achieved revenues of 34.15 billion yuan, decreased by 16.65%, net profit of 763 million yuan, decreased by 43.62% .
The company said that in 2013 sales of Foton completed 664,000, increase by 7.2%. Sales of commercial vehicles rose 7.1%, with 16.2% domestic market share, still ranking first.
In terms of exports, Foton in 2013 achieved commercial vehicle export 47,991, representing an increase of 8.2% over the same period last year.
The company predicts that in 2014, China's auto production and sales will maintain a growth rate of over 10%. Among them, passenger vehicles will remain a high rate of growth while that of commercial vehicles will be low as the upgraded emission regulations.
The company plans to achieve sales of 680,000 with revenues of 36 billion yuan in 2014.
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