UPDATE 1-China Changan Auto's Q1 surges more than fourfold

Newswire

(Adds details, analysts quotes) SHANGHAI, April 23 (Reuters) - China's top maker of minivans, Chongqing Changan Auto Co Ltd , said on Wednesday its first quarter net profit surged more than fourfold on the year and predicted a buoyant first half based on strong sales. Changan Auto, which is building a $98 million car plant with Ford Motor Co , reported unaudited earnings of 326.53 million yuan ($39.4 million) under domestic accounting standards. "The company expects the car market in ...

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