China auto manufacturing industry profits up 12.9% in Jan.-Apr.

Profits of major Chinese auto manufacturing firms rose by 12.9% year on year in the first four months of this year, the National Bureau of Statistics (NBS) said on Monday.

The rate was up 2.3 percentage points from that in the first quarter.

Profits of major auto manufacturing companies, or those with annual revenues of more than 20 million yuan (3.15 million US dollars), totaled 143.72 billion yuan in the first four months, said the NBS.

Meanwhile, main business revenues of these large auto firms expanded 14.1% year on year to 1.825 trillion yuan in the January-April period.

China's auto sales in January-April increased 13.23% from a year ago to 7.266 million units, while output grew 13.44% year on year to 7.297 million, according to data released by the China Association of Automobile Manufacturers (CAAM) in early April.

(Edited by Olivia, olivia@tireworld.com.cn)