China Automotive Systems’ sales up 8% y/y to USD499 million in 2017
Company forecast 2% y/y growth in 2018 sales to USD510 million
China Automotive Systems (CAS) has reported net loss of USD19.3 million in the financial year ended 31 December 2017 compared to net income of USD22.5 million in the previous year, the Chinese power steering components and systems supplier said in press release on 29 March. The company reported net loss despite recording 8% year-over-year (y/y) increase in net sales to USD499.1 million.
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