Chinese Auto Profits Surge
By Michelle Krebs August 20, 2007Profits in the Chinese auto industry grew nearly 66 percent in the first half of 2007 compared with the first half of last year, according to the Chinese Association of Automobile Manufacturers.
Profits in the first six months of this year grew to $1.58 billion (U.S.). The largest automakers -â First Auto Works, Shanghai Automotive Industry Corp. and Dongfeng Motor, all major partners with Western automakers â- showed the largest gains.
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