Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
CPCA: CN Auto Industry Posts Higher Rev., Lower Profit in 2024; Profit Margin Relatively Low
Recommend 38 Positive 59 Negative 25 |
||||
|
||||
|
For the full year of 2024, the revenue of the automobile industry in mainland China whopped RMB10.65 trillion, notching a YoY growth of 4%; the cost was RMB9.33 trillion, representing a YoY growth of 5%; and the profit RMB462.3 billion, marking a YoY drop of 8%, Cui Dongshu, Secretary General of China Passenger Car Association (CPCA), wrote in an article. The profit margin of the automobile industry stood at 4.3%, which was still on the low side when compared with the average level of margin of downstream industrial enterprises, which was 6%. For the single month of December 2024, the automobile industry's revenue amounted to RMB1.19 trillion, representing a YoY growth of 13%; cost amounted to RMB1.04 trillion, being a YoY growth of 15%; profit amounted to RMB49.1 billion, a YoY decline of 13.5%. In Cui's view, the automobile industry needs to effectively reduce costs and increase efficiency, and enhance the level of cost control. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
