BEIJING - Beijing Automotive Group (BAIC), the Chinese partner of Daimler AG and Hyundai Motor Co, Monday said that its profit in 2011 increased by 46.1 percent year-on-year, far beyond the average 8-percent growth for the whole industry in China.
The Beijing-based automaker's 2011 profit stood at 16 billion yuan ($2.54 billion), said Xu Heyi, chairman of the company.
Sales revenue of the state-owned company rose by 27.4 percent to 20.1 billion yuan, Xu said.
Following a 32-percent growth in 2010, China's auto market saw much slower growth in 2011 after the government scrapped small-car tax incentives as well as imposed purchase restrictions in Beijing.
The company sold more high-end vehicles in 2011, which contributed to the high profit increase, Xu said.
BAIC sold 1.54 million cars in 2011, up 2.7 percent from a year ago. Among them, 36.1 percent were high-end cars, more than 2010's 26.2 percent, he said.
According to Xu, BAIC will focus on own-brand vehicles and new-energy vehicles in 2012.
Meanwhile, a new production base, with an investment of 5 billion yuan, will start operation in the third quarter of 2012, said Han Yonggui, vice president of BAIC.
Comments: (China Daily Website - Connecting China Connecting the World

USEUROPE
AFRICAASIA
中文Français


- HOME
- CHINA
- WORLD
- BUSINESS
- LIFESTYLE
- CULTURE
- TRAVEL
- WATCHTHIS
- SPORTS
- OPINION
- REGIONAL
- FORUM
- NEWSPAPER
- China Daily PDF
- China Daily E-paper
- MOBILE
BACK TO THE TOP

Copyright 1995 -
. All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263
About China Daily
Advertise on Site
Contact Us
Job Offer
Expat Employment
FOLLOW US

)
Sorry, the page you requested was not found.
Please check the URL for proper spelling and capitalization. If you're having trouble locating a destination on Chinadaily.com.cn, try visiting the Chinadaily home page
Registration Number: 130349