Dongfeng's profits fell up to 70% in first half
Dongfeng Automobile Co. said profits in the first six months of 2012 are expected to fall 60 to 70 percent, in the wake of slow sales of commercial trucks, Xinhua news service reported.
In the first half of 2011, the state-owned automaker earned 295 million yuan ($46 million), according to Xinhua.
Dongfeng's sales of heavy trucks, light trucks and engines have fallen year-on-year as China's economy slowed. Other commercial truck makers are experiencing a similar sales slowdown.
According to Xinhua, Beiqi Foton Motor Co. suffered a 31 percent drop in heavy commercial truck sales in the first six months, while light truck sales rose only 2 percent.
And Anhui Jianghuai Automobile Co. reported a sales decline of 16 percent in the first six months.
In the first half of 2011, the state-owned automaker earned 295 million yuan ($46 million), according to Xinhua.
Dongfeng's sales of heavy trucks, light trucks and engines have fallen year-on-year as China's economy slowed. Other commercial truck makers are experiencing a similar sales slowdown.
According to Xinhua, Beiqi Foton Motor Co. suffered a 31 percent drop in heavy commercial truck sales in the first six months, while light truck sales rose only 2 percent.
And Anhui Jianghuai Automobile Co. reported a sales decline of 16 percent in the first six months.
