Shanghai. December 7 (Gasgoo.com) –In the first ten months of this year, China's heavy truck sales surged 65.40 percent to 412,657 units while total production went up 68.84 percent to 416,343 units, according to the latest report prepared by China Association of Automobile Manufacturers (CAAC).

In October, China's heavy-duty truck sales reached 37,800, down 6.20 percent month-on-month and sales reached 35,700 units, down 4.29 percent month-on-month, the CAAC report said.

In the first 10 months, sales of 32-ton or even heavier trucks soared 265.62 percent to 1,700 units, while sales of 26-32 ton heavy trucks went up 109.62 percent to 27,100 units and sales of 19-26 ton trucks reached 37,100 units.

In addition, sales of incomplete light trucks increased by 39.84 percent year on year to 184,400 units in the first ten months; semi-trailer truck sales surged 107.37 percent to 150,600 units.

The top six sellers were FAW(83,500 units), Dongfeng (73,000), Beiqi Foton(28,000), Shanxi Automobile(49,900), SAIC-Iveco(20,900) and Beijing Benz(13,700), of which Beiqi Foton and Shanxi Automobile increased their sales by 120.17 percent and 87.55 percent respectively.

"China's economic growth and fixed-asset investments are a driving force behind heavy-truck sales," said Zhang Yupu, Chairman of the Board of Shaanxi Automobile Group. "But the growth is going to slow down in the next one or a half years,'' he added.
source: gasgoo.com

The"Most Valuable Brand Evaluation China"recently performed an evaluation of brands of FAW Group and announced that "First Automotive" ranked 5th place in year 2006, with net worth of 35.7 billion Yuan (RMB). Value of the "First Automotive" is increased 2 billion Yuan (RMB) over last year. "Jiefang" ranked first place at the heavy duty truck with net worth of 11.4 billion Yuan (RMB). "Hongqi" also ranked the first place at car industry, with net worth of 5.8 billion Yuan (RMB). Brand value of "First Automotive", "Jiefang" and "Hongqi" has been increased for consecutive seven years.
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BEIJING (XFN-ASIA) - China's FAW Car Co Ltd (SZA 000800), a subsidiary of the country's largest automaker First Automotive Works (FAW) Group Corp, said net profit surged to 358.29 mln yuan in the third quarter, up 56.7 pct year-on-year, mainly due to lower costs.

Operating costs in the third quarter totaled 2.74 bln yuan, down 30.4 pct year-on-year, while operating revenue rose 44.2 pct year-on-year to 3.75 bln yuan.

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