ChangAn expects H1 nets up 121%-138%

Chongqing Changan Automobile expected its net profits for the first half of 2013 to surge by 121.04% to 138.58% from the same period of last year thanks to remarkable increases in auto sales.

Changan projected its net profits for H1 would stay in a range of 1.26 billion to 1.36 billion yuan, compared with net profits of 570 million yuan registered in the first half of 2012.

The automaker said sales of its ChangAn brand sedans soared 81% year on year to 191,600 units in the first six months, and its joint venture with Ford Motor -- Changan Ford -- also reported sound sales figures, selling a total of 288,500 units during the period, up 63% from the corresponding period of last year.

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