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Ford's China partner expects third quarter net profit up 146 percent

Reuters

SHANGHAI -- Ford Motor Co.'s Chinese partner, Changan Auto Co. Ltd., said today it expected a 146.32 percent jump in third quarter net profit from a year earlier.

Net profit for the period is estimated at $67.4 million (533.3 million yuan) compared with 216.52 million yuan a year earlier, Changan Auto said in a statement.

Turnover could rise 36.08 percent to $2.31 billion (18.23 billion yuan) in the third quarter, it said, without elaborating.

Changan Auto, China's fourth-largest vehicle maker, is scheduled to release its quarterly results on Oct. 28.

In a separate statement, Changan said a previously-announced recall of 52,838 Focus sedans by Changan Ford Mazda Automobile -- its tie-up with Mazda Motor Corp. and Ford -- will cost $3.6 million (28.68 million yuan). It did not say how the cost the will be shared.

The Focus is the venture's best-selling car model.

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Stacy94PGT
My first car was a 67 Mustang Coupe, 2nd one was a 67 Cougar XR-7, 3rd one was a 66 Mustang Coupe. Why did I get rid of these cars for ? I know why, because I'm stupid, stupid, stupid.

My next Ford.....