Latest News:  
Beijing   Cloudy/Foggy    15 / 9   City Forecast

Home>>China Business

China's FAW Car reports 49.86 million yuan of net loss in Q3


10:02, October 31, 2011

BEIJING, Oct. 30 (Xinhua) -- FAW Car Co., a unit of one of China's three largest auto makers, reported Sunday a net loss of 49.86 million yuan (7.88 million U.S. dollars) in the third quarter of this year because of slowing sales in the world's largest auto market.

Sales revenue declined 25.38 percent year-on-year in the July-September period to 6.65 billion yuan, the company said in a statement to the Shenzhen Stock Exchange.

The company attributed the loss to a combination of various factors, including the withdrawal of the government's favorable policy to stimulate auto sales, rising oil prices and the new car purchase restriction in Beijing, which all hurt sales. Higher costs also added the company's financial pressures.

The company's net profits plunged 57.79 percent year-on-year in the first nine months to 753.77 million yuan, it said. Its auto sales in the January-September period surpassed 180,000 units, down 2 percent from a year earlier.


Leave your comment0 comments

  1. Name


Selections for you

  1. Urumqi greets 1st snow

  2. Bayi Aerobatic Team perform in Weifang

  3. Picturesque scenery of Mugecuo in S. China

  4. Heavy fog envelopes North China

Most Popular


  1. China's development no threat to Japan
  2. Chinese officials need to speak cautiously
  3. Why Taoism can change the world
  4. Who is shaping China's online public opinion?
  5. War in Syria: Gamble for US
  6. Ambassador: China-US relations not zero-sum game
  7. Concerns arise about credibility of public hearings
  8. China weighs social security law for foreign workers
  9. Positive factors emerge in Chinese stock market
  10. New energy layout taking shape in China

What's happening in China

Chinese show they are keen to get in saddle

  1. 29 killed in central China's coal mine blast
  2. China funds tuition for students serving in army
  3. Death toll rises to 24 after truck overturns
  4. China Mobile launches new firm
  5. Freighter sinks after collision off east China coast

PD Online Data

  1. Tangerines and oranges
  2. Dried persimmon cake
  3. Guangdong candy
  4. Tangyuan
  5. What do Chinese eat during the Spring Festival?