Dongfeng Automobile H1 net profits down 68% on year

China’s homegrown automaker Dongfeng Automobile (600006.SH) said on Wednesday its net profit for the first half of 2012 reached 95.67 million yuan, a sharp fall of 67.52% year on year, chiefly due to the tumble in truck sales.

The automaker said in a filing to theShanghaistock exchange that it expected to see sharp slump in net profits in the first three quarters of this year, in light of the lackluster performance of truck market.

The company’s operating turnover totaled 9.958 billion yuan in January-June, down 10.39% from the same period of 2011.

The automaker sold 18,160 motor vehicles in July, tumbling 21.06% on year, while its sales in the first seven months of 2012 amounted to 167,471 units, down 12.06 percent year on year.

(Contributed by Olivia, Olivia@tireworld.com.cn)