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Changan Automobile posts 2018 sales decline

Auto News - Published on Tue, 15 Jan 2019

Image Source: Gasgoo
Gasgoo reported that Chongqing Changan Automobile Co., Ltd. (Changan Automobile) saw its full-year sales in 2018 slid 25.6% from the previous year to 2,137,785 units. Meanwhile, it faced a year-on-year (YoY) slump of 44.3% with 158,136 vehicles sold in December, according to the automaker's sales report. The automaker said the annual sales of its self-owned Changan brand amounted to 1,499,747 units, exceeding 1 million units for the fourth year in a row. The cumulative sales of the CS55 SUV skyrocketed 107.2% to 165,102 units. Besides, the yearly sales of the CS75 Series and the CS35 Series reached 140,066 units and 131,417 units respectively.

As to sedan models' performance, the sales of the EADO Series aggressively climbed 35.8% over the year-ago period to 125,715 units in 2018.

A total of 86,832 NEVs were sold by the group, among which the Dec. NEV sales were 21,204 units.

However, speaking of the full-year sales of each subsidiary, the negative growth has happened to all of them. Particularly, Changan Ford, the major force among joint ventures, should see its sales in 2018 nearly halved over the previous year.

According to Changan Automobile's Q3 financial report, the automaker earned RMB49.852 billion in operation revenues for first nine months last year with a YoY decline of 3.07%. The Jan.-Sept. net profits attributable to parent company tumbled 79.98% to RMB1.163 billion. The company said the profit loss should be ascribed to the overall downturn of domestic automotive market and the sales decline of joint-venture-made vehicles that led to a sharp decrease in investment income.

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Posted By : Joykumar Irom on Tue, 15 Jan 2019
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