Brilliance China Automotive Holdings said it expected to record a net profit for the first half of 2010 compared with a loss for the same period a year ago, helped by strong earnings from joint venture BMW Brilliance.
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BMW said earlier this week it would ship 10,000 additional 3-series cars built-up from Germany to China this year, paying 25% import duty on each, as Brilliance’s local JV assembly plant could not meet demand.
The company said in a statement that BMW Brilliance sales rose over 50% in the first half but gave no further details, Reuters reported.
Brilliance China, the country’s top minivan maker, also said discontinuation of its Zhonghua sedan business had a positive effect on its earnings.
Earlier this year, Brilliance China had said it expected to post a “very satisfying” profit for 2010 thanks to strong demand for cars produced by the joint venture with BMW.
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