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China Association of Automobile Manufacturers
11-03-11

BEIJING - Most domestic carmakers reported surging profits in the first quarter this year as sales boomed, but experts say the windfall is not likely to continue. St. Louis Rams Holt Jersey . According to statistics from the China Association of Automobile Manufacturers (CAAM), 17 major automakers had combined pre-tax profits of 82.4 billion yuan between January and March, a jump of 155 percent over the same period last year. SAIC Motor Co ranked No 1 among listed car companies with net profit of 2.9 billion yuan. The result was better even than BMWs full-year profit of 210 million euros ($279 million) in 2009. Chongqing Changan Automobile Cos first-quarter sales leapt 86 percent. FAW Car Co posted 182 percent increase in its first-quarter profit. Analysts said the surge is due to several factors including continued government incentives that boost sales in smaller cities, overall growth in the economy and recovery of car exports. Investment in the auto industry rose by 32 percent in the first quarter to 58.4 billion yuan, according to the CAAM statistics. Market data shows that in the first four months, vehicle sales in China reached 6.17 million units, up 61 percent from the same period last year. Analysts widely believe that full-year sales will increase by at least 10 percent to 15 million vehicles. Many carmakers are eyeing the huge market potential and expanding capacity in China. Sino-Japan joint venture Dongfeng Nissan Passenger Vehicle Co just began work on a new plant in Guangzhou earlier this month. German giant Volkswagen also plans to build two new plants in China and introduce more new models at an investment of around 6 billion euros ($7.98 billion) in the next three years. Related readings: Chinas non-State automaker produces 2m cars China automaker Geely inaugurates assembly line in Russia Changan is third largest automaker Chinese automaker SAIC denies technology theft But growth in car sales actually began to slow in April. Some 1.56 million vehicles were sold, a 10 percent decrease from March, according to CAAM. Prices of locally made passenger vehicles in March and April edged down slightly, according to a survey by the National Development and Reform Commission. Experts predict that automakers profits are likely to reach their maximum in the second quarter and start to decline in the second half of this year. A senior analyst noted that shrinking tax-cut incentives will cool the small car market and increasing stockpiles will drag down vehicle prices and profits. The highly competitive market means an oversupply that will dampen sales and profits, he said.   John Kuhn Jersey . Marc Staal and Brian Boyle scored for the Rangers, who swept the home-and-home set and have claimed six of their last eight games. It was totally different than last nights game, Rangers head coach John Tortorella said of the low-scoring contest in comparison to Thursdays 6-5 victory. Premier Lawrence Timmons Jersey .5 million Sony Ericsson Open, the second Masters 1000 tournament of the year. The 6-foot-6 Querrey handled Luxembourgs Gilles Muller 6-4, 6-3 on the hardcourts at the Tennis Center at Crandon Park. Pierre Garcon Jersey . Race organizers selected real estate mogul Donald Trump as this years celebrity pace car driver a month ago. Joe Namath Jersey . The Ministry of Commerce said the FDI flowing into China shrank by 35.7 percent from a year earlier, to $5.36 billion last month, compared with a 6.8-percent dip in June. This is also the 10th-straight monthly drop since last October. Eric Dickerson Jersey . Jordan was signed as a free agent prior to last season and gained just 86 yards on 25 touches over nine games of an injury-plagued campaign. Green Bay Packers William Henderson Jersey . Paul Janish hit a solo homer and scored twice for the Reds, who have won four in a row and sit two games ahead of the Cardinals in the NL Central. St. Louis lost to the Brewers on Tuesday. Arroyo (13-7) gave up two runs on six hits over 7 1/3 innings. The right- hander also struck out five and walked two. Green Bay Packers Clay Matthews Jersey . These teams meet for the second time this season and feature a lot of offensive firepower. At least one goaltender, Pittsburghs Marc-Andre Fleury, has persevered with an impressive winning percentage against the Flyers. Matt Leinart Jersey . It gives the teams that finish with the fewest points during the regular season the greatest chance of having their combination selected. Only the 14 teams that do not qualify for the Stanley Cup Playoffs, or clubs that acquired those clubs' first-round draft picks, participate in the drawing. NEW YORK, états-Unis - Les Rangers de New York ont ajouté du mordant à leur attaque, mardi, en engageant lattaquant Alexander Frolov qui possédait le statut de joueur autonome sans compensation. Les Rangers ont consenti un contrat de 3 millions$ US pour un an au Moscovite agé de 28 ans. Cest un million de moins que le salaire quil a touché, la saison dernière. Frolov a réussi 19 buts, en plus de récolter 32 passes, en 81 matchs chez les Kings de Los Angeles, la saison dernière. Lénigmatique Frolov sest forgé une fiche de 168 buts et de 213 passes en 536 rencontrres en saison régulière, toutes dans luniforme des Kings. Patriots Ochocinco Jersey. . ?Alex est un joueur très talentueux qui, nous avons le sentiment, pourra jouer un r?le important dans lamélioration de notre attaque, en plus de jouer dans toutes les situations?, a affirmé le directeur général des Rangers, Glen Sather. ?Il est un fier compétiteur et il peut jouer aux deux ailes.? Lathlète qui mesure six pieds deux pouces et qui pèse 210 livres a surpassé le plateau des 20 buts à cinq reprises en sept saisons dans la LNH, atteignant le plateau des 30 buts deux fois en 2006-07 et en 2008-09. ' ' '


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