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CPCA: CN Automakers' Rev. Up 4% to RMB10T+ in 2024; Profit Down 8%
Recommend 36 Positive 71 Negative 37 |
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The revenue of the automobile industry in mainland China in 2024 whopped RMB10.65 trillion, up 4% YoY; costs RMB9.33 trillion, up 5% YoY; profits RMB462.3 billion, down 8% YoY; and the automobile industry's profit margin 4.3%, still relatively low compared to the downstream industrial enterprise profit margin of 6% on average, data released by the China Passenger Car Association (CPCA) showed. In December 2024 alone, the auto industry logged revenue of RMB1.19 trillion, marking a YoY rise of 13%; costs RMB1.04 trillion, a YoY growth of 15%; profits RMB49.1 billion, a YoY decrease of 13.5%; and the auto industry’s profit margin 4.1%. The lithium-ion battery manufacturing industry posted a profit growth of 48.5% in 2024. The automobile industry needs to effectively reduce costs and enhance efficiency, while lifting the level of cost control. AAStocks Financial News |
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