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7 Chinese auto companies on Fortune 500 list

 

According to the Fortune 500 list for 2013 published by Fortune Magazine, seven Chinese auto companies are on the list. However, the net profits of these companies are still lower than the overseas auto companies, chinanews.com reported on Thursday.

SAIC Group, which led the seven listed Chinese companies, jumped from the rank of 130 last year to 103 this year, with annual gross revenue of $76.2 billion in 2012.

The other companies are FAW Group, Dongfeng Motors, China South Industries Group (CSGC), GAC Group, Geely Automobile and BAIC Group. GAC and BAIC made their first appearance on the list this year, ranking 483 and 336, with their annual gross revenue of $24.2 billion and $33.4 billion in 2012.

FAW rose from the rank of 165 last year to 141 this year, thanks to its gross revenue of $64.9 billion last year, while CSGC jumped 29 places from last year to 209th, with annual gross revenue of $48 billion in 2012.

Meanwhile, Dongfeng Motors fell slightly from the ranking of 142 last year to 146 this year, with its annual gross revenue of $61.7 billion in 2012.

Of the seven companies, Geely is the only private-owned auto company, with annual gross revenue of $24.6 billion last year.

Their impressive gross revenue helped the Chinese auto companies surpass some overseas auto companies such as Peugeot, Renault, Suzuki and Mazda, but net profits are still lower.

Statistics show that net profits for the highest-ranking SAIC was $3.3 billion, with a profit margin of 4.3 percent.

FAW, Dongfeng, BAIC and CSGC reported net profits of $2.6 billion, $1.3 billion, $1.1 billion and $220,000 million, while the numbers GAC and Geely reported are both below $10 million.

By comparison, net profits at Toyota and VW are $11.6 billion and $27.9 billion, respectively, in 2012.

 

 
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