Sales and Profits of Foton Motors Declines in Q1

www.chinatrucks.com: Foton Motors released the sales data on April 29 in the first quarter this year, and their sales revenues were 8.392 billion Yuan, down 13.57% over last year, and the profits were 125 million Yuan, down 42.01% over last year.

 

And they sold 135,348 vehicles in the first quarter, down 21.5% over last year, and 15.5% of which are commercial vehicles, ranking the first on sales of commercial vehicles, down 0.6% over last year, which can be attributed to the sales decreasing of trucks. Foton Motors is adjusting their product structure to produce more high end vehicles with the commercial vehicle adjustment era, and Foton sold 51.2% of high end vehicles during the first quarter, 3.9% higher than last year.

 

Among which:

19,026 medium and heavy trucks were sold, down 41.3% over last year, and the sales were down  33.3% in China truck industry, and its market shares are 10.6%, 1.4% lower than last year, which can be attributed to the changes of market structure, and the highway logistics needs are increasing which is not the major markets for Auman trucks, whereas the coal transports, engineering transport markets which are the major markets for Auman trucks is decreasing. Next, the company will strengthen the marketing jobs for GTL trucks.

105,151 light trucks were sold, down 17.7% over last year, and China light truck markets decreased by 18.3%, and Foton light trucks are better than China light truck industry, and the sales ranked the first in China, and the market shares are 19.7%, up 0.2% over last year. And 39.7% of the light trucks are high end markets, up 11.4% over last year. In the future they will adjust the structure of medium and high end light trucks.

1,290 medium and large buses are sold, down 23.3% over last year, and China bus industry decreased by 6.1%, and its market shares are 4.4%, down 1% over last year, which is affected by the order by Beijing Public Transport Company. In the future, they will pursue more orders from Beijing Public Transport Company and they will focus on new energy city buses to increase their sales.

6,295 light buses were sold, down 26.1% over last year, and China light buses industry decreasing by 6.4%, and its market shares are 6%, down 2.7% over last year, which is mainly due to the control of 4Y enigne orders, which took half, and this affected the general sales volumes, In the future they will improve the markets efforts on 485 engine light buses to increase the sales and prices.

14629 vehicles were exported, up 25% over last year although the general sales in China auto industry are decreasing, and the major destinations are America, Southeast Asia, West Asia, North Africa and medium and south Africa.

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