Brilliance expects to turn a profit in second quarter 2007
I wonder if their recent crash test results Germany will affect sales domestically and internationally?
HONG KONG: Carmaker Brilliance China Automotive Holdings Ltd. will turn profitable in the second quarter this year after posting annual losses the past two years, its chairman said Friday.
The company, based in the central Chinese province of Hubei, also plans to come to an agreement soon with joint venture partner BMW AG to build a second BMW production plant in China, the chairman said.
We are continuing to record strong sales growth this year, said chairman Wu Xiaoan after the companys annual shareholders meeting. After achieving break-even in the first quarter, we will turn to a profit in the second quarter, he said.
Brilliance Chinas increased production output has driven down unit production costs, Wu said. Vehicle prices have also remained firm on strong demand.
Wu said he was very confident the company would achieve full-year profit.