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National Press Release
![]() | SORL Auto Parts Provides Business UpdatePublished 2009-01-13 08:30By SORL Auto Parts, Inc. |


Worldwide economic conditions have caused a slowdown in the automotive industry. While the weakness in global automotive production has negatively impacted SORL's OEM business, the impact on its domestic and international aftermarket segments has remained limited due to the relatively stable demand for aftermarket products.
Historically, the fiscal third quarter has been SORL's strongest quarter. However, as discussed last year, SORL's sales grew at a slower pace in the third quarter of 2008 than in the two prior quarters, as a result of shifts in production schedules at its OEM customers.
Growth in SORL's domestic and international aftermarket segments remains healthy. In the fourth quarter of 2008, the UAE remained the Company's top export market, followed by the U.S. The Company expects that in 2009, the U.S. and the UAE will remain its top export markets for aftermarket products. Though the Company believes that uncertainty in the auto industry will continue into the second quarter of 2009, SORL also believes that it will be able to achieve stable overall growth in 2009.
The Company continues to focus closely on its cash management. It adopted
higher standards for accepting customers and has cut back on customers that
pose greater credit risk, to help assure a healthy cash flow. In addition,
the Company believes it has sufficient liquidity including internally-
generated cash flow and an untapped credit line of more than
Mr. Zhang continued, "In 2009, we will focus on managing risk and
enhancing our profitability. We believe that beginning in the second quarter
of 2009, we will see a gradual recovery in the commercial vehicle market
partly resulting from the Chinese government's
About SORL Auto Parts, Inc.
As
Safe Harbor Statement
This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements. Forward- looking statements can be identified by the use of forward-looking terminology such as "will", "believes", "expects" or similar expressions. These forward- looking statements may also include statements about our proposed discussions related to our business or growth strategy, which is subject to change. Such information is based upon expectations of our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to uncertainties and contingencies beyond our control and upon assumptions with respect to future business decisions, which are subject to change. We do not undertake to update the forward-looking statements contained in this press release. For a description of the risks and uncertainties that may cause actual results to differ from the forward-looking statements contained in this press release, see our most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 10-K, and our subsequent SEC filings. Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system (EDGAR) at http://www.sec.gov .
SOURCE SORL Auto Parts, Inc.








