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Automakers make heavy investments

(chinadaily.com.cn)
Updated: 2007-08-02 14:11

Special coverage: Auto Shanghai 2007
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According to the 2006 annual reports of the top 10 listed auto manufacturers, nine of them, except Dongfeng Automobile Co, had a net cash outflow in 2006, which means major Chinese automakers have increased their investments.

The statistics show that the overall cash outflow of Shanghai Automotive Co Ltd last year was 46.8 billion yuan (US$6.1 billion), and more than 7 billion yuan came from investment projects, an increase of 300 percent from the year before. Changan, Jianghuai Automobile Co (JAC), Jiangling, King Long, and Yutong also had net cash outflows from 2005.

King Long invested heavily in its new plants in the Fuzhou Guannan Industry Area and its coach company. Changan spent a lot of money on the construction of Changan Ford Mazda's Nanjing plant and expanding Changan Suzuki's production lines. And Yutong spent 104 million yuan to improve its daily bus output to 120 units.

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The full text is available in the August Issue ofAutoChina.