Chongqing Changan Automobile Co. said its net profits in 2015 rose 23 to 34 percent on strong results posted by its joint ventures with Ford and Mazda.

 

Net income ranged from 9.3 billion yuan to 10.1 billion yuan ($1.4 billion to $1.5 billion).

 

The profit surge reflected rising demand for crossovers.

 

Last year, sales of Changan's partnership with Ford Motor Co. increased 7 percent to 836,425 vehicles on strong demand for the Ford Edge and EcoSport crossovers, as well as two newly launched sedans -- the Escort and the Taurus.

 

Meanwhile, the Changan brand's deliveries rose 11 percent to 1.54 million light vehicles last year on robust demand for the CS 75 and CS 35 crossovers.

 

Changan also received a boost from its joint venture with Mazda Motor Corp. Deliveries of Changan Mazda Automobile Co. surged 61 percent to 153,122 vehicles, reflecting strong volume generated by the Mazda CX-5 crossover.

 

Robust deliveries of Ford, Changan and Mazda cars offset weak sales of Changan's other two joint ventures.

 

Last year, sales of Changan Suzuki Motor Corp. dropped 27 percent to 120,175 vehicles. Changan PSA Automobiles Co., which assembles the Citroen DS lineup, sold only 24,451 vehicles. 

 

Changan, headquartered in the southwest China municipality of Chongqing, is listed on the Shenzhen stock exchange.