According to new data from auto supplier Tiger Auto Parts, the auto maker has a profit margin of almost 5%.
And that’s despite a hefty tax bill.
The automaker, which operates in the United States, Canada and Mexico, reported a $1.3 billion net income in the first quarter of 2017, compared to $1 billion for the same period in 2016.
In a statement, Tiger said that its financial performance was “driven by strong growth in new orders, strong demand for its products, and strong demand from our customers for our new products and services.”
Tiger also noted that its annual operating expenses were $2.3 million lower than in the previous quarter, but that it’s “currently working on a plan to expand its sales footprint and reduce costs.”
The company said it expects the year-over-year growth in its net income to be between 5% and 10%.
Tiger said it is considering additional revenue sources for the year, including sales of certain vehicle and parts.