China's auto manufacturing profit up 8.43 times year-on-year in January-March
In the first three months of this year, China's auto manufacturing industry profit rose 843.4 percent year-on-year to 132.08 billion yuan ($20 billion), according to data released Tuesday by China's National Bureau of Statistics.
In the January-March period, the operating revenue of China's auto manufacturing industry rose 71.5 percent year-on-year to RMB 2.12 trillion, while operating costs rose 69.4 percent year-on-year to RMB 1.8 trillion, the data showed.
In January-March, China's industrial enterprises above scale realized total profits of RMB 1.83 trillion, up 1.37 times year-on-year and up 50.2% from January-March 2019.
From January to March, among 41 major industrial industries, 39 industries increased their total profits year-on-year, one industry turned a loss into a profit and one industry achieved a loss reduction.
Earlier this month, the China Association of Automobile Manufacturers released data showing that all vehicle sales in China in March were 2.526 million units, up 74.9% year-on-year.
China's new energy vehicle sales in March were 226,000 units, up 238.9% year-on-year.
Pure electric vehicle sales were 190,000 in March, up 2.5 times year-on-year.
Plug-in hybrid vehicle sales were 36,000 units, up 1.9 times year-on-year.
Fuel cell vehicle sales were 59 units, up 63.9% year-on-year.