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Rise in sales lifts Chang'an Auto profit
Last Updated(Beijing Time):2006-04-17 10:13

Chongqing Chang'an Automobile Co., a Chinese partner of Ford Motor Co. and Suzuki Motor Corp., had its first profit growth in seven quarters after its sales of minivans and passenger cars increased.

Net income rose 8.6 percent to 76 million yuan (US$9.5 million) in the quarter ending Dec. 31, from 70 million yuan a year earlier. Sales rose to 6 billion yuan from 5 billion yuan a year earlier. The figures were derived from the company's full-year earnings. Chang'an, a publicly traded unit of the country's fourth-biggest automaker, has benefited from rising demand for smaller cars in China, which is being driven by higher gasoline prices and government policies. Sales of cars with engines of less than 1 liter rose 76 percent last year to 325,402 units, according to the China Association of Automobile Manufacturers.

Source:Shenzhen Daily 
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