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06-08-2007
According
to the 2006 annual reports of the top 10 listed
auto manufacturers, nine of them, except Dongfeng
Automobile Co, had a net cash outflow in 2006,
which means major Chinese automakers have increased
their investments.
The statistics show that the overall cash outflow
of Shanghai Automotive Co Ltd last year was
46.8 billion yuan (US$6.1 billion), and more
than 7 billion yuan came from investment projects,
an increase of 300 percent from the year before.
Changan, Jianghuai Automobile Co (JAC), Jiangling,
King Long, and Yutong also had net cash outflows
from 2005.
King Long invested heavily in its new plants
in the Fuzhou Guannan Industry Area and its
coach company. Changan spent a lot of money
on the construction of Changan Ford Mazda's
Nanjing plant and expanding Changan Suzuki's
production lines. And Yutong spent 104 million
yuan to improve its daily bus output to 120
units.
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