Cars

Brilliance China sees H1 profit as BMW sales rise

(Agencies)
Updated: 2010-07-15 15:30

HONG KONG: Brilliance China Automotive Holdings said it expected to record a net profit for the first half of 2010 versus a loss for the same period a year ago, helped by strong earnings from joint venture BMW Brilliance.

Related readings:  Brilliance China sees a 'very satisfying' profit in 2010  Brilliance Auto expects heavy loss in 2009  BMW and Brilliance invest 5 billion yuan for new plant  BMW expands investment in China

The company said in a statement late on Wednesday that sales of BMW sedans by BMW Brilliance had increased by over 50 percent in the first half of 2010 compared to the same period in 2009. It gave no further details.

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 said it expected to post a "very satisfying" profit this year on strong demand for cars produced by its joint venture with Germany's Bayerische Motoren Werke AG.