BEIJING - China's auto
industry has slowed down in the first seven months of
2004 compared to the first half of the year but growth
is still higher than that of the same period last year,
according to the information department of the China
Association of Auto Manufacturers.
According to
statistics on 5,742 auto enterprises in China, the
industry realized 643.14 billion yuan (US$77.8 million)
in total industrial output from January to July of 2004,
an increase of 119.045 billion yuan or 22.71%
year-on-year, but 2.43 percentage points lower than the
growth in the first half; and 624.962 billion yuan in
industrial sales, up 114.089 billion yuan or 22.33%
year-on-year, but 2.13 percentage points lower than in
the first half.
The industry realized 106.437
billion yuan in value added, down 4.42% or 4.923 billion
yuan year-on year, and turning positive growth in the
first half to negative. The sales ratio of the industry
stood at 97.17% in the first seven months, down 0.31
percentage points year-on-year, and maintaining the same
level as of the first half.
Sales revenue of the
industry was 625.658 billion yuan in the January-July
period, rising 23.43% year-on-year or 118.772 billion
yuan, but 2.54 percentage points lower than the growth
in the first half. The industry delivered goods valued
at 33.322 billion yuan for export in the period, up
44.3% or 10.23 billion yuan year-on-year, 1.06
percentage points higher than the growth in the first
half.
For the five different sectors of the
industry, motor vehicle manufacturing realized 307.011
billion yuan in sales revenue, up 21.48% year on year,
but 3.56 percentage points lower than the first half;
vehicle refitting sector, 47.593 billion yuan, up 9.50%,
down 1.39 percentage from the growth of the first half;
motorcycle manufacturing, 53.147 billion yuan, up
27.58%, but 2.1 percentage points down from first half;
vehicle engine sector, 28.955 billion yuan, up 26.65%
year on year and 1.16 percentage points over the first
half; and auto parts manufacturing sector, 188.951
billion yuan, up 29.26% year-on-year, but down 1.89
percentage points from the first half.
The
industry raked in 51.325 billion yuan in total profits,
rising 11.46% or 5.276 billion yuan over the same period
last year. The growth was 2.46 percentage points lower
than the first half. Total profits and taxes of the
industry was 81.138 billion yuan in January-July, up
8.62% or 6.441 billion yuan year-on-year, but 3.41
percentage points lower than the growth in the first
half.
The slowdown in profits and taxes is
attributed to the price hike of raw materials, the price
cuts of auto products, rising costs, upgrading of old
products, and the reduction of work days in the period.
Costs on sales of the industry increased 23.43%
year-on-year.
Profits of the motor vehicle
manufacturing sector was 27.587 billion yuan in the
period, up 0.93% year-on-year, and 3.39 percentage
points lower than in the first half; motorcycle
manufacturing sector, 1.467 billion yuan, up 51.8%
year-on-year, down 22.13 percentage points from the
first half; auto engine sector, 1.935 billion yuan, up
24.97% year-on-year, and down 0.73 percentage points
from the first half; auto parts sector, 18.502 billion
yuan, up 29.32% year-on-year, but down 0.16 percentage
points from the first half; and vehicle refitting sector
posed 3.25% drop in profits over the same period last
year.
Accounts payable of the automotive
industry were 136.372 billion yuan by the end of July,
rising 30.29% year-on-year, including 78.32 billion yuan
for state-owned and controlled enterprises, up 32.62%
year-on-year. Funds occupied by finished products
amounted to 64.073 billion yuan by the end of July, up
28.18% year-on-year, including 37.364 billion yuan for
state-owned and controlled enterprises, up 25.61%.
China now has 5,742 automotive enterprises,
according to statistics from the China Association of
Auto Manufacturers. Among them, 129 are motor vehicle
manufacturing companies, 502 vehicle refitting ones,
1,005 motorcycle production enterprises, 50 auto engine
plants and 4,056 auto parts and components enterprises.
