Profits of major Chinese auto manufacturing firms surged 20.2 percent year on year in the first half of this year, the latest data released from the National Bureau of Statistics (NBS) showed.
Profits of major auto manufacturing companies, or those with annual revenues of more than 20 million yuan (3.15 million US dollars), expanded to 232.7 billion yuan in the January-June period, said the NBS.
Automobile sales posted strong growth in the first half of the year, despite the country's lackluster economic performance, according to China Association of Automobile Manufacturing (CAAM) data.
Sales grew by 12.34 percent year on year to 10.78 million units, 9.41 percentage points higher compared with the same period last year. Output grew 12.83 percent to 10.75 million units, 8.75 percentage points higher than a year earlier, said the CAAM.
(Edited by Olivia, Olivia@tireworld.com.cn)
