11-12-2007

China's auto industry may post a combined profit of more than 100 billion yuan ($13.5 billion) this year despite widespread discounting, citing Rao Da, head of the China Passenger Car Information Association.

Automakers have been using more locally produced components to help boost profitability, the state-run news agency said, citing Rao. The average localization rate at venture assemblies is about 75 percent, it added.

Competition among Chinese automakers has led to almost 40 billion yuan of profit erosion, cited Rao.

Editor Ida.Zhang from Chinabuses.com

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