FAW Profit Falls 40% From Sales Decline
Compact-car maker Tianjin FAW Xiali Automobile Co. said its first-half net profit fell 40% on a decline in sales. The car maker said net profit for the six months was 116.11 million yuan ($15.4 million), down from 194.48 million yuan a year earlier. Revenue fell 4.7% to 4.02 billion yuan. Its joint venture with Toyota Motor Corp., Tianjin Toyota Motor Co.
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