|
14-05-2007
China's
top 16 automotive groups reported a 70 percent
increase in first-quarter profits helped by
brisk sales, but the pace is expected to slow
due to pricing wars in the world's second-biggest
vehicle market.
From
January to April this year, sales of domestic
passenger vehicles - sedans, sport utility vehicles,
multi-purpose vehicles and micro-buses - climbed
20.7 percent to 2.08 million units, according
to the auto association.
However,
analysts predicted full-year profit growth will
be dampened by aggressive price incentives brought
by mounting competition.
Zhang
Xin, an analyst with Guotai Jun'an Securities
Co Ltd in Beijing, said 2007 profits of the
16 largest automotive groups will grow 35 to
40 percent from last year.
| 
