Beiqi Foton predicts its light truck profits to double

Beiqi Foton Motor Co, the largest light truck maker in China, said Tuesday that it expected its profits to double this year, China Auto News reported. The Beijing-based truck maker, which is planning to sell a stake to Daimler AG, did not give an exact figure for its profit expectations in its statement to the Shanghai Stock Exchange. The automaker’s third-quarter sales jumped 56% year-on-year to US$877.17 million (RMB6.57 billion) and its profit more than doubled to US$6.37 million (RMB47.7 million) during the period.