FAW Jiefang, a division of First Auto Works (FAW) and the largest maker of heavy-duty trucks in China, posted a steep rise in 2010 profit. Net income topped 2 billion Yuan last year, compared with less than 300 million Yuan in 2009.
The company delivered 260,000 medium- and heavy-duty trucks in 2010, up from 167,000 units in 2009. Jiefang J6, which accounted for most of the sales and profit growth, sold over 60,000 units, up more than 200% from 18,000 in 2009. For 2011, FAW aims to increase J6 sales further to 80,000 units.
Developed at a cost of 730 million Yuan and over a period of 7 years, Jiefang J6 trucks have gross vehicle weights ranging from 8 to 24 tons and are equipped with engines of 130 to 460 horsepower.
The next generation J6, the J7, will be launched in 2015.
The overall Chinese market of heavy-duty trucks expanded 59.93% to reach 1.0174 million units last year, led by FAW, Sinotruk, and Dongfeng (visit here for our report on last year’s truck sales in China).