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REPORTS - CHINA - CAAS 2005 First Quarter Results: Net Sales Up 22.7 Percent
HUBEI,China -PRIMEZONE/China Automotive Systems, Inc. -May 5 2005: -- China Automotive Systems, Inc. (Nasdaq:CAAS) today announced financial results for the quarter ended March 31, 2005, reflecting sales strength from the heavy duty and light truck market. ... Net sales for the first quarter increased 22.7 percent to $14.0 million from $11.4 million a year earlier... increased sales to heavy duty vehicle customers Dongfeng Auto Group and Shanxi Heavy Auto Co., two of China Automotive's new heavy duty vehicle customers added in 2004, which climbed to16.1 percent and 5.5 percent in the 2005 first quarter from 10.9 percent and 2.8 percent in 2004, respectively...
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