China Auto Logistics Full-Year Profit Plummets On Lower Auto Sales - Quick Facts

(RTTNews) - China Auto Logistics Inc. (CALI), a seller of imported automobiles in China, Thursday reported a plunge in profit as well as revenue for the year 2013, mainly as auto sales fell.

For the full year, the company reported a profit of $524,260 or $0.14 per share, down from $2.57 million or $0.69 per share last year.

Annual net revenue decreased to $459.23 million from $591.31 million in 2012.

The company sold 4,837 luxury, imported automobiles during 2013, down 26.58 percent from 6,588 last year. The company also noted that most of the auto sales were of lower end luxury models.