Dongfeng aims to boost sales by improving brand power and launching new models for 2024. (Photo by Shizuka Tanabe)
GUANGZHOU — Dongfeng Motor Group has logged its first full-year net loss since the major state-owned Chinese automaker’s 2005 listing in Hong Kong, dragged down by plunging profits from joint ventures with Japanese partners.
The company reported Thursday a 3.9 billion yuan ($540 million) loss for 2023, reversing the year-earlier 10.2 billion yuan profit.
