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Tianjin Faw Xiali Auto's output down 14% in Nov

Dec. 13, 2011 (China Knowledge) - Tianjin Faw Xiali Automobile Co Ltd<000927>, controlled by FAW Group Corp, one of China's largest automotive group, announced on Monday that its vehicle output for November declined 14.28% from a year earlier to 22,400 units, including 20,300 vehicles under the Xiali brand.

In a statement, Shenzhen-listed Tianjin Faw Xiali Auto saw its sales reach 26,700 units last month, down 9.63% year-on-year. Of the total sales, 22,400 units were Xiali vehicles.

During the period from January to November 2011, the auto maker produced 234,500 vehicles and sold 235,900 vehicles. The output and sales of the Xiali models for the same period was 182,500 units and 181,200 units, respectively.

The Tianjin-based vehicle manufacturer earned RMB 109 million in net profit in the first three quarters of this year, reflecting a year-on-year plunge of 62.29%, but its operating revenue increased 12.12% from a year earlier to RMB 7.44 billion.

According to the website of Tianjin Faw Xiali Auto, the company owns two sedan plants, two branches, two R&D institutes, four controlling firms and two joint stock companies.

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