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China tire industry profits at RMB2.18 bln in Q1
2013-7-11 0:00:00Font Size：Big Medium Small
tire industry
China’s tire industry posted steady performance in the first quarter of this year amid falling demand and growing macroeconomic uncertainty.
The 42 sizable tire manufacturers raked in profits of 2.18 billion yuan in the first quarter of 2013, up 35.3% year on year.
The growth rate was down 18.8 percentage points from that in the same period of last year.
Breaking down, profits of indigenous firms grew 27.8%, down 0.7 percentage points from a year ago, while that of foreign investment-backed enterprises surged 47.7% during the period, falling 64.3 percentage points.
(Edited by Olivia, Olivia@tireworld.com.cn)
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