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August 19, 2014

CHINA: Brilliance posts profit jump, but warns on outlook

Brilliance China Automotive Holdings has said its net profit rose 79% to 3.63bn yuan in the first six months of the year.

Brilliance China Automotive Holdings has said its net profit rose 79% to 3.63bn yuan in the first six months of the year.

The company benefited from continues strong demand in China for premium brand cars. However, the company – which has a JV with BMW – warned that there are regulatory and competitive challenges ahead for the premium area of the car market in China.

“Recent regulatory developments in the Chinese premium auto segment will pose challenges to participants in the market,” Brilliance said this week in a filing with the Hong Kong Stock Exchange. It also said that further competition is expected at the premium end of the car market.

The regulatory authorities in China have been investigating car makers in China for price-fixing and anti-competitive behaviour, especially in the aftermarket business.  

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