China's Major Auto Producer Reports Increasing Sales Income

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Last updated at: (Beijing Time) Wednesday, January 15, 2003

China's Major Auto Producer Reports Increasing Sales Income

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Dongfeng (East Wind) Automobile Corporation, one of the world's top three truck producers, reported 70.48 billion yuan (8.52 billion US dollars) in sales income in 2002, a rise of 49.8 percent from the previous year.

The corporation, also one of the three major automobile manufacturers in China, registered a 250 percent increase in net profits last year.

General Manager Miao Wei said Dongfeng produced 418,400 motor vehicles and sold 415,700 in 2002, up 54.74 percent and 53.05 percent respectively from the previous year.

Drastic increases were especially recorded in the output and sales of cars, with heavy-duty and light-duty motor vehicles increasing the most at 90 percent, noted the general manager.

Cars accounted for 32 percent of the company's total output in 2002, or six percentage points higher than the previous year. Heavy-duty vehicles accounted for 20 percent.

Dongfeng carried out a plan last year to boost the development of the company through the use of science and technology and to speed up making the products more varied to meet a varied market demand, Miao said.

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