JMC boasts 15.7% YoY jump in 2024 revenue

Shanghai (Gasgoo)- On January 21, Chinese automaker Jiangling Motors Co., Ltd. (JMC) released its earnings report for 2024, indicating robust growth across key metrics.

JMC achieved a total revenue of 38.374 billion yuan in 2024, marking a 15.7% year-on-year jump.

In the same year, JMC's net profit attributable to shareholders reached 1.537 billion yuan, edging up 4.2% from the previous year. The adjusted net profit after excluding non-recurring gains and losses rose by 36.28% over a year ago to 1.356 billion yuan, reporting a steady growth in profitability.

Production and sales data highlight JMC's robust performance. JMC announced on January 2 that it manufactured 33,449 vehicles in December 2024, representing a 2.39% year-on-year growth compared to the previous year. It sold 35,506 vehicles during the same period, showing a slight year-on-year growth of 4.41%.

For the whole year of 2024, JMC manufactured 344,841 vehicles and sold 341,208 vehicles, posting a year-on-year rise of 12.17% and 10.06%, respectively.

Breaking down sales by models, JMC sold 87,310 light-duty buses in 2024, up 8.83% from a year earlier. Truck sales totaled 61,932 units, posting a 1.41% year-over-year decline. The company's pickup truck sales soared to 73,242 units, showing an jump of 22.77% year-on-year. Meanwhile, JMC sold 118,724 SUVs, representing a year-on-year growth of 10.64%.