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Yulon Group sees near-record auto earnings, expects more

2011/03/08 22:40:21

Taipei, March 8 (CNA) Taiwan's largest automaker Yulon Group saidTuesday that it achieved a near-record high revenue of NT$15 billion(US$500 million) last year and plans to launch four new models andinvest NT$13 billion to improve its manufacturing capability in 2011.

Making the remark at a reception with media, Chen Guo-rong,president of Yulon Motor, said last year's profit was the highest infive years and the company will further recruit 1,200 employees tomeet the growth in demand.

Yulon Group sold more than 98,000 cars in 2009, earning a revenueof NT$6 billion and gaining a market share of 31 percent, Chen said,adding that the profit from car sales accounted for more than 40percent of the income of the group.

In 2011, the company expects to sell 107,500 cars in Taiwan, fora 35 percent share of the local market of 330,000-360,000 units.

Yulon Group plans to invest NT$500 million to add 18 moredealerships that will sell cars under its LUXGEN brand.

(By Chao Hsiao-hui and Maia Huang)