According to data from the China Association of Automobile Manufacturers, domestic car sales in September reached 1,556,700 units, a month-on-month increase of 17.73% and a year-on-year increase of 16.89%. In the first nine months, the national car sales exceeded 13 million, close to the annual car sales in 2009, with a year-on-year increase of 35.93%.
On October 14, Jianghuai Automobile (600418.SH) released an announcement on its third-quarter performance forecast.
According to the announcement, it is estimated that the net profit attributable to the owners of the parent company in the first three quarters of 2010 will increase by more than 220% compared with the same period last year (256 million yuan ) . 338,800 units, a year-on-year increase of 46%.
On October 12, SAIC Motor (600104.SH) also released a third-quarter performance forecast announcement. It is expected that the net profit attributable to the company’s shareholders in the first three quarters of this year will increase by more than 140% year-on-year. As of September 30, 2010, the company’s vehicle sales have exceeded 2.66 million, a year-on-year increase of more than 36%.
In addition, Changan Automobile Co., Ltd. expects to achieve a cumulative net profit of 1.65 billion to 1.75 billion yuan in the first nine months of 2010, a year-on-year increase of 96% to 108%. FAW Car (000800.SZ) expects net profit in the first three quarters to increase by 67% to 100% year-on-year. Ningbo Huaxiang (002048.SZ), a listed company that produces auto parts, expects net profit in the first three quarters to increase by 50% to 70% year-on-year.
Among the domestic passenger car companies, Chery Automobile ranked first in the list of domestic self-owned brand cars with a monthly sales volume of 70,336 units . Among them, the company exported 10,564 cars in September, a year-on-year increase of 71%. Among the joint ventures, Shanghai GM sold more than 100,000 vehicles in September , ranking first among the joint ventures with 100,825 vehicles, a year-on-year increase of 41%.
According to the report of the China Automobile Association, the association predicts that the total sales of automobiles in China will exceed 17 million in 2010
