just-auto.com

CHINA: Toyota partner profitable

By just-auto.com editorial team | 9 October 2006

Tianjin FAW Xiali Automobile, Toyota's Chinese partner, has said it expected its net profit to rise 50 to 100% in the first nine months of 2006 from a year earlier, boosted by higher sales.

The profit outlook compared to 149.42m yuan ($18.9m) in the nine months to the end of September of last year, FAW Xiali said in a statement cited by Reuters on Monday.

The news agency said the car maker in August posted a three-fold rise in first-half net profit and had said it expected its earnings to jump by roughly 200%.