By Yi Wei Wong

Dongfeng Motor Group Co. said Friday that its first-half net profit slumped as automotive sales were hurt badly because of the Covid-19 pandemic.

Net profit for the period fell 65% to 3.02 billion yuan ($438.3 million), the automobile dealer said in an earnings release.

Revenue rose slightly to CNY50.58 billion from CNY48.45 billion a year earlier, Dongfeng Motor said.

Auto sales were hit hard in the first quarter before recovering slightly in the second quarter as the impact of the pandemic eased in China, the company said.

Dongfeng Motor said it expects overall automotive sales to contract 7.3% in 2020 and rebound in 2021. 



  Write to Yi Wei Wong at yiwei.wong@wsj.com