Profits rev up for China's car makers

THE profits of Chinese auto makers grew 65.8 percent in the first six months of the year as the country's auto industry maintained strong momentum.

First-half profits totaled 30.21 billion yuan (US$3.98 billion), 11.98 billion yuan more than the same period last year, according to latest figures from the China Association of Automobile Manufacturers. The country's 16 major automobile manufacturers reaped a total 486.38 billion yuan in revenues, up 26.6 percent. Fourteen car makers reported higher revenues than the same period last year, with the top three — FAW, Shanghai Automotive Industry Corp and Dongfeng Motor — each scoring more than 80 billion yuan.