Brilliance China Automotive’s (NYSE: CBA – news; SEHK: 1114) 51%-owned subsidiary, Shenyang JinBei Passenger Vehicle Manufacturing Company Ltd. (“Shenyang Automotive”) experienced excellent sales volume growth for the nine months ended September 30, 2000.
Shenyang Automotive sold a total of 46,063 minibuses in the nine months ended September 30, 2000, a 45.7% increase over the 31,613 minibuses sold during the same period in 1999. Shenyang Automotive sold 38,844 of its Mid-priced Minibuses in the nine months ended September 30, 2000, an increase of 54.1% over the 25,205 units sold during the same period in 1999. Unit sales of the Deluxe Minibus increased by 36.5% from 5,289 in the first nine months of 1999 to 7,219 units for the same period in 2000.
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Mr. Yang Rong, Chairman and President of the Company, said: “We have been able to maintain a high growth in sales and our leadership position in the Chinese minibus market through the first three quarters of 2000 thanks to a strengthening national economy and continued strong demand for our minibuses. We expect this trend to continue in the last quarter of the year.”
