Beijing, China, 03 Feb – Profit margins for Chinese car manufacturers fell to 4 percent in 2005 due to increased prices of raw materials and a fall in car prices, China’s national statistics institute said.
According to official figures, car manufacturers posted profit of US$2.62 billion in 2005, a 38 percent decrease against 2004.
Profit margins fell to 4 percent against a nationwide industrial average of 4.46 percent for the first time.
In 2004, the profit margin for car manufacturers was 6.86 percent and in 2003 it stood at 9.11 percent.
Chinese car manufacturers produced 2.95 million cars in 2005, an annual increase of 26.9 percent. (macauhub)