www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

 
English 中文
go to FORTUNE.com

Powered by Chinadaily.com.cn

 
home Contact us go to FORTUNE.com
News
Special Report
People
Webcast
Photos
China Economy
Conference
· Intro & Theme
· Schedule
· Speakers
· Venues
·Sports Roundtable
·Cultural Roundtable
·Participants
 
  Auto Industry
Auto profits continue their slump
[ 2005-05-13 08:59:32]
The profits plunge in the domestic auto sector continued in the first quarter as sales sagged, prices were slashed and costs surged, according to the National Bureau of Statistics.
 
Total profits stood at 7.64 billion yuan (US$922.7 million) in the first quarter, down a massive 58.5 per cent from a year ago, said Jiang Yuan, an auto analyst at the bureau.
 
This was the third consecutive quarterly decline since the third quarter of last year, Jiang said.
 
The sector's profits dived by 61.5 per cent year-on-year to 3.5 billion yuan (US$422.7 million) in the first two months of this year.
 
More than 100 producers of cars, trucks and buses in China reported 2.9 billion yuan (US$350.2 million) in profits in the first quarter of this year, sliding 75.4 per cent on last year, he said.
 
Profits in the auto components segment declined by 28.2 per cent year-on-year to 4.05 billion yuan (US$489.1 million) from January to March.
 
Jiang attributed the slump to sluggish sales and fierce price wars.
 
Sales of domestically-made automobiles fell by 1.16 per cent to 1.27 million units in the first quarter of this year from the same period of 2004.
 
"Customers appear not to be very sensitive to manufacturers' frequent price cuts and new products," Jiang told China Daily.
 
Chery Automobile in East China's Anhui Province slashed prices of its Qiyun, Fengyun and Oriental Sun sedans by 4,000 yuan (US$483) on Sunday, making it the latest car maker in the nation offering substantial markdowns.
 
"A full-year sharp decline in the auto sector's profits will be inevitable in 2005, although conditions may get a little bit better with a small rebound in vehicle sales during the second half of the year," he said.
 
Many automakers will remain in the red this year, he added.
 
Jinbei Automobile Co Ltd, the Shanghai-listed van maker, forecast first half losses at the end of last month.
 
The company in Northeast China's Liaoning Province reported losses of 0.07 yuan (0.86 US cents) per share in the first quarter of this year.
 
Tianjin FAW Xiali Automobile Co Ltd, the Shenzhen-listed partner of Japan's Toyota Motor Corp, made losses of 40.89 million yuan (US$4.94 million) in the period.
 
Jiang said that high costs of materials, such as steel, are also eroding automakers' profits.
 
Domestic steel prices increased by about 10 per cent at the end of March from the beginning of this year, according to the China Iron and Steel Association.
 
Analysts from securities firms predict the average profit margin of automakers in China will fall to less than 6 per cent this year, from almost 7 per cent in 2004.
 
"However, the profit plunge is not a totally bad thing as it will both drive some manufacturers to axe new production capacity to ease the domestic market glut and speed up the reshuffling of the fragmented auto sector," Jiang said.
 
Total vehicle demand in China is widely predicted to grow by 12 per cent to 5.6 million units this year with car orders climbing by 15 per cent to 2.6 million units.
 
(China Daily)
 
 
All rights reserved. Powered by Chinadaily.com.cn
 
主站蜘蛛池模板: 最新精品亚洲成a人在线观看 | 国产不卡在线播放 | 国产精品二区在线 | 亚洲成人一级 | 欧美视频不卡 | 国产午夜毛片v一区二区三区 | 一区二区三区四区在线播放 | 久久中文字幕乱码免费 | 久久天天躁综合夜夜黑人鲁色 | 日本一级级特黄特色大片 | 国产一区二区三区四区在线 | 一区二区三区在线免费视频 | 日本特黄特色大片免费看 | 亚洲精品中文字幕久久久久久 | 在线免费观看成年人视频 | 国产乱色在线观看 | 国产 magnet | 国产又色又爽黄的网站免费 | 亚洲理论欧美理论在线观看 | 日本免费一区视频 | 久久久久欧美精品网站 | 国产精品亚洲二区 | 成人在线视频一区 | 欧美一级看片a免费观看 | 一级免费视频 | 男女午夜性爽快免费视频不卡 | 九九re6精品视频在线观看 | 岛国大片在线播放高清 | 日本亚洲欧美国产日韩ay高清 | 99草精品视频 | 国产亚洲一欧美一区二区三区 | 女人张腿让男桶免费视频网站 | 国产成人一级 | 久久久久国产精品免费看 | 久久久久久久久久久9精品视频 | 欧美在线一区二区三区不卡 | 又黄又湿又爽吸乳视频 | 亚洲精品www | 中文字幕亚洲天堂 | 免费一级成人免费观看 | 精品免费久久久久欧美亚一区 |