AutoBeta(AutoBeta.net)07/12 Report--

On July 12, FAW issued a performance forecast that the company expects the net profit to be attributed to shareholders of listed companies from 9 million to 13 million from January to June 2019, a year-on-year change of-88.88% to-83.93%. The average net profit growth rate of the automobile industry is-20.14%.

The company made the above forecast based on the following reasons: the sales volume of the passenger car market declined in the first half of the year, and the competition continued to intensify, resulting in a decrease in the sales volume of the company's products; affected by the switching between the fifth and sixth countries, the rising prices of the precious metal market and the fluctuation of the yen exchange rate, the company's product cost increased; due to the decline in the income of the participating companies, the company's investment income decreased.

FAW car said that the efficiency of the passenger car market declined in the first half of the year, and competition continued to intensify, resulting in a decline in the company's product sales. At the same time, the cost of the company's products has increased due to the switching between country 5 and country 6, the rise in precious metal market prices and the fluctuation of the yen exchange rate.

FAW Pentium's official figures show that it sold 13434 vehicles in June, an increase of 167 per cent year-on-year. As of June, FAW Pentium sold nearly 50, 000 vehicles this year, up 4.1 per cent from a year earlier.

A total of 739000 SUV models were sold in June, up 0.3% from a year earlier and 15.1% month-on-month, according to the China Association of Automobile Manufacturers. This means that in the context of the cold winter of the car market, the SUV market segment still maintains a certain concentration.

In the context of the unfriendly environment of the overall car market, FAW Pentium is growing against the trend, which is really gratifying. However, it is worth noting that in the six months in the first half of the year, except for June, the sales results from January to May were not very optimistic. On the contrary, more than 13000 vehicles were sold in June, an increase of 167%.

In addition, Pentium will launch three models one after another in the second half of this year. A new small SUV--T33 and another flagship SUV--T99; T77, which will go on sale in October, will also be revamped by the end of the year with a more powerful 1.5T engine.

FAW Pentium continues to enrich the SUV market, in which the overall product of T77 is commendable, coupled with FAW's brand endorsement, so much sales actually do not depend on luck. I believe that with the launch of other models, there will be more responses.

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