UTC+8 ( BJT)

China automakers’ profits up 5.5% against average at 49.5%

ABSTRACT

The on-year growth in Chinese automakers’ total profits already slumped to a single digit by the end of August, up 5.5% on year for the first eight months against the 19.7% on-year increase over January-July, the China Association of Automobile Manufacturers (CAAM) pointed out in a post on September 28.
China’s sizeable industrial enterprises saw their gross profits up 49.5% on year over January-August and steelmaking and processing plants that supply raw materials to the automakers posted a 155.6% on-year surge in their gross profits, as reported. “The on-year gain in gross profits (among the automakers) was substantially lower than the

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