Jiangling Motors Co., Ltd. (“JMC”) Y2013 Q3 Performance Report was released recently. Its first three quarters’ operating revenue is RMB 14.8 billion yuan, up 16.1% over the same period last year. The net profit attributable is RMB 1.26 billion yuan with a YOY increase of 7%, the corresponding earnings per share is RMB1.46yuan. The third quarter sales revenue is RMB 5.12 billion yuan with a sharp YOY increase of 27.3%.
Industry analysts say that in light of the large sales volume of JMC light bus and its increase in gross profit, the cooperation between Ford and JMC is expected to yield a profit increase for JMC on a long term basis. JMC Q3 overall sales volume grew by 20.7%. 16,500 units of Ford light bus was delivered in quarter three only, up 18.3% YOY. The total volume in first three quarters is 49,000 units, the sales volume proportion grows by 2% up to 30%. Sales volume of Pickup and SUV kept rising.
Analysts anticipate that an upward volume is foreseeable since AT Yusheng SUV has been promoted. Ford positions JMC as itscommercial vehicle platform and SUV production base, thus, new SUV products in the future are expected to enhance the overall sales volume and profitability of JMC.
