Shenyang Brilliance Automotive’s gross profit fell more than 50 per cent last year, partly because a truck-making joint venture with US vehicle maker General Motors failed to meet sales targets, Reuters reported.
Jinbei GM Automotive began production of Chevrolet sports utility vehicles in the second half of last year and S-10 crew cab pickups late in the year. The plant sold about 1,800 vehicles, compared with a target of 2,400. Sales of its light trucks also fell, causing a large decline in profit.
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