CNHTC Jinan Truck Sells 5,420 Vehicles in Aug, Down 23.1 Percent YoY

Source: Company Disclosure, ChinaScope Financial (Data)

+       According to an announcement last night, the number of heavy trucks CNHTC Jinan Truck Co., Ltd. (000951: SHE) produced in August was 4,010, down 2.2 percent year-on-year. The sales volume of heavy duty trucks decreased 23.1 percent year-on-year to 5,420.

+       In the first eight months, total output of heavy duty trucks was 51,079, down 26 percent. Total sales volume was 51,898, a decrease of 30.73 percent year-on-year.

+       As a pioneer in China’s heavy duty truck industry, the company is now one of the top players in the global market after 50 years of development. It has been playing an important role in China’s social development over the past several decades.

Slowdown in fixed asset investment growth is reflected in heavy truck sales declines. CNHTC Jinan Truck (000951.SHE), one of China’s leading heavy machinery producers, has recorded negative sales growth rates throughout most of 2011-12.

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