Shares in Chongqing Changan Automobile rose on Tuesday after it said 2009 earnings soared due to central government incentives to boost vehicle sales.

Shenzhen-listed Changan Automobile, China’s fourth-largest auto maker by sales, closed up 4.9% at CNY13.26 after reporting a net profit of CNY1.1bn (US$161.1m) last year, compared with CNY24.4m in the previous year.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Revenue jumped 88.4% to CNY25.2bn after it sold 1.37m vehicles in 2009, up 64.1% year on year, AFP reported, citing data filed with the stock exchange. Its market share expanded by 1.13 percentage points to 10.03%.

The company aims to sell 1.85m units in 2010 for revenue of CNY39bn.

“The extension of policies favourable to China’s auto industry will continue to support its rapid development in 2010,” Changan Automobile said in its statement.

The company, well known for its minivans, also said it aims to “march into the European and American markets” by 2019, AFP added.

SAIC sees slower growth

FAW net surges 50%

Just Auto Excellence Awards - Nominations Closed

Nominations are now closed for the Just Auto Technology Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
Continental has secured the Window Displays Innovation Award in the 2025 Just Auto Excellence Awards for its Window Projection solution, transforming side windows into dynamic, data-rich canvases. Discover how this compact projection technology and intelligent software are reshaping in-car UX and opening fresh revenue streams for OEMs and mobility providers.

Discover the Impact