Brilliance China Automotive Holdings Announces Q1 Sales Volume
5 May 2000
Strong Sales Volume Recorded for Brilliance China Automotive Holdings Limited for First Quarter of Year 2000HONG KONG, May 4 Brilliance China Automotive's (NYSE: CBA; SEHK: 1114) 51% -- owned subsidiary; Shenyang JinBei Passenger Vehicle Manufacturing Company Ltd. ("Shenyang Automotive") saw a strong sales volume growth entering year 2000. Shenyang Automotive sold a total of 14,865 minibuses in the first quarter of 2000, a 117.6% increase over the 6,830 minibuses sold during the same period in 1999. Shenyang Automotive sold 13,066 of its Mid-priced Minibuses in the first quarter of 2000, an increase of 165.8% over the 4,915 units sold during the same period in 1999. Unit sales of the Deluxe Minibus increased 11.6% from 1,608 in the first quarter of 1999 to 1,795 units for the same period in 2000. Over the past five years, Shenyang Automotive has become China's most competitive minibus manufacturer. Market share has grown from 4.4% in 1995 to 23.4% at the end of 1999, to 31.3% at the end of March 2000, according to China Automotive Industry Newsletter. Mr. Yang Rong, Chairman and President of Brilliance China Automotive, said, "Shenyang Automotive is continuing to register record high unit sales numbers since the beginning of the year thanks to strong sales growth in the western provinces as well as strong demand for our newly introduced "low emission" electronic fuel injection minibuses. Management believes that high growth is sustainable due to the Chinese Government's policies of giving priority to developing China's western provinces and as more major cities and provinces begin to adopt more stringent vehicle emissions standards."