Top 10 joint venture car companies in January-June revenue increase of 118%

In 2017, with the declining domestic auto consumption policy, the auto market slowed down. From January to June this year, the total sales of domestic passenger vehicles reached 13.354 million, an increase of 3.8% from the same period last year. But this did not affect the car companies to make money, many companies get the money to get soft. The online auto market sorted out the top ten joint-venture car companies in January-June 2017. SAIC's general operating income reached 103.15 billion yuan, followed by Beijing Benz and BMW Brilliance; among them, FAW Mazda saw the largest increase, reaching 118%.

SAIC General Motors

From January to June, operating income reached 103.143 billion yuan

The total operating revenue of SAIC GM for the period from January to June this year was 103.147 billion yuan, an increase of 13% year-on-year, and the profit attributable to the listed parent company was 9.36 billion yuan, a year-on-year increase of 8.0%. The increase in profits was attributed to the outstanding sales performance of its Cadillac brand. In the first half of the year, it sold 81,000 units, a 71% increase year-on-year. Sales of XT5, ATS-L and other models were strong, with cumulative sales of 30,405 units for the XT5, an increase of 471.6% year-on-year; and cumulative sales of the ATS-L were 25,445 units, a year-on-year increase of 77%.

Beijing Mercedes-Benz

Net profit increased by 106.7% from January to June

Beijing Benz's operating income from January to June reached 58.313 billion yuan, a year-on-year increase of 56%. The net profit attributable to the listed parent company reached 8.312 billion yuan, an increase of 106.7% year-on-year. In the first half of this year, domestic sales of Mercedes-Benz accounted for more than 70% of Mercedes-Benz’s total sales in China. Among them, the C-class vehicles maintained an excellent market performance with a year-on-year increase of 24%. In the medium and large-sized passenger cars segment, the E-class cars also achieved a 125% growth.

BMW Brilliance

From January to June, operating income increased by nearly 40%

The sales revenue of BMW Brilliance from January to June amounted to RMB 53.042 billion. The net profit contributed to the Group increased by 39.99% from RMB 1.908 billion in 2016 to RMB 2.668 billion. BMW Brilliance’s net profit was 5.336 billion yuan, and profit before tax reached 7.114 billion yuan. In the first half of the year, the completion of the expansion of the BMW New Dadong plant completed the launch of the new 5 Series Li Long Wheelbase medium and large cars and the new 1 Series sports car. This year, the cumulative sales volume of domestic models reached 185,000, an increase of 30.1% year-on-year, and the pretax profit of bicycles exceeded 38,400.

Changan Ford

Both operating income and net profit fell in January-June

Chang'an Ford's total operating revenue in January-June was approximately RMB 49.423 billion, a decrease of 13% year-on-year, and net profit attributable to shareholders of listed companies fell by 31% to RMB 6.239 billion. In the first half of this year, Changan Ford sold a total of 359,700 units, a year-on-year drop of 17%, and the average monthly sales volume was less than 60,000 units. Among them, Fu Ruisi, Changan Ford's best-performing vehicle, sold 123,348 vehicles, a year-on-year decrease of 3.71%; in addition, the sales volume of Mavericks was 36,865, a decrease of 34.4% year-on-year.

SAIC-GM-Wuling

From January to June, operating income declined slightly

SAIC-GM-Wuling’s total operating revenue for January-June was approximately RMB 49.2 billion, down 0.48% year-on-year. The net profit attributable to the shareholders of the listed company was approximately RMB 2.057 billion, a decrease of 18.2% year-on-year. Although the Baojun brand introduced hot models such as the 510 and 310W, it did not generate revenue growth for SAIC-GM-Wuling. From January to June this year, SAIC-GM-Wuling sold 1.0313 million units, an increase of nearly 0.1% year-on-year. Among them, the Baojun 510 was listed less than 5 months ago, and the cumulative sales volume exceeded 100,000 units to 102,906 units. In stark contrast to this, Wuling brand sales continued to decline.

Guangqi Honda

From January to June, operating income reached 41.27 billion yuan

Guangzhou Automobile Honda's operating income reached 41.27 billion yuan from January to June, an increase of 30.44% year-on-year. The net profit attributable to the listed parent company reached 1.643 billion yuan. Behind the increase in operating income of Guangzhou Automobile Honda, thanks to the substantial increase in sales. Sales from January to June this year showed encouraging performance, with a total of 330,824 vehicles sold, an increase of 12% year-on-year. In terms of cycling, Guangqi Honda's Accord, Binzhi, and Fit continued to sell well, with monthly sales of more than 10,000 units.

GAC Toyota

January-June revenue rose 8.8%

GAC Toyota's total operating income for January-June was 31.175 billion yuan, an increase of 8.81% year-on-year. The net profit attributable to the listed parent company exceeded 1.014 billion yuan. The significant increase in revenue was driven by the continuous sales of GAC Toyota Highlander, Ralink Shuangqing and Camry Shuangqing. From January to June this year, Hanland sold 52,977 vehicles, a year-on-year increase of 14.9%. In terms of hybrid vehicles, Ralink Shuangqing sold 17,524 vehicles, an increase of 50% year-on-year; Camry Shuangqing sold 2,968 vehicles in the first half of the year. The combined sales of the two vehicles in the first half exceeded 20,000 units, accounting for 10% of the total sales of GAC Toyota.

Changan Mazda

Net profit rose sharply from January to June

Chang'an Mazda's operating income from January to June this year reached 10.86 billion yuan, an increase of 2.9% year-on-year; the profit attributable to the listed parent company was 1.2 billion yuan, an increase of 26% year-on-year. The profit growth was mainly due to the steady increase in the sales volume of Angkorra and achieved continuous sales of 10,000 yuan. In addition, the sales volume of the CX-5 model also increased significantly to 22.9% year-on-year.

FAW Mazda

From January to June, net profit rose and surged

The total operating revenue of FAW Mazda for January-June was approximately RMB 8.872 billion, an increase of 118% year-on-year; net profit attributable to the listed parent company was RMB 420 million, a 61% year-on-year increase. Behind the rapid growth of profits, thanks to the rapid growth in sales volume, the CX-4, which was listed last year, sold 33,619 units in the first half of this year, which accounted for 57% of the total sales, and became the definitive model of FAW Mazda.

Zhengzhou Nissan

January-June net profit continued to decline

Zhengzhou Nissan’s total operating income for January-June was about RMB 2.857 billion, up 10.48% year-on-year. However, the net profit attributable to the shareholders of the listed company was still in a loss state, which dropped from -0.16 billion yuan in 2016 to -0.29 billion yuan. The main reason is that Zhengzhou Nissan’s leading product pickup truck is in the transition period of product switching and loses its market competitiveness. In the first half of this year, Zhengzhou Nissan sold a total of 25,800 vehicles, a decrease of 17.4% compared with 31,300 vehicles last year. In June of this year, the new strategic Pikanawara went public and was given high hopes. With the restrictions on the pickup of the pickup trucks in the domestic market, it will be conducive to the future development of Zhengzhou Nissan.