China’s Jiangling Motors said today that its net profit surged 85% year-on-year in the first six months of 2002 mainly due to rising sales of its minivan and light trucks, Reuters reported.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Net earnings rose to 130 million yuan ($US15.71 million) also due to lower costs and financial expenses, Jiangling said in its interim results report published in the Securities Times, according to Reuters.

Ford has a 29.96% stake in Jiangling, which has hard currency B shares available to foreigners, and Chinese-only domestic A shares listed on the Shenzhen stock exchange, Reuters said.

Just Auto Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Auto Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now