GAC Group reports over 440% YoY growth in both Feb. outputs, sales

Shanghai (Gasgoo)- GAC Group output and sold 103,937 and 105,128 new vehicles in Feb., respectively representing year-on-year hike of 500.34% and 443.38%, the company announced on March 8. The robust growth not only resulted from the low base for the year-ago period due to the coronavirus pandemic, but also indicated that the company is returning to normalcy in both production and operation.

For the first two months of the year, GAC Group saw its outputs and sales amount to 295,768 units (+90.43% YoY) and 322,461 units (+64.84% YoY).

Breeze; photo credit: GAC Honda

Both GAC Honda and GAC Toyota recorded year-over-year increase of over 400% in Feb. sales. GAC Honda's sales shot up 448.69% to 41,064 units last month, resulting in a year-to-date sales volume of 69,969 units (+69.63% YoY). Notably, the sales of the sports hybrid family, including the hybrid versions of the tenth-generation Accord, the Breeze, the Odyssey and the Crider, totaled 14,543 units for the Jan.-Feb. period, leaping 77.6% from a year ago.

Levin Hybrid; photo credit: GAC Toyota

GAC Toyota scored a year-on-year spike in Feb. by selling 41,500 vehicles. Last month, hybrid vehicles contributed to 15.08% of the joint venture's total sales, 2.33 and 10 percentage points higher than that of the previous month and the previous year.

Both GAC Motor and GAC Aion, the two self-owned business units of GAC Group, saw their Feb. sales more than double over a year earlier. GAC Motor sold 48,111 vehicles in the first two months, of which 13,711 units were sold last month, a precipitous rise of 234.82%. The Feb. sales of the Trumpchi M8 increased sevenfold over the prior-year period.

Aion V; photo credit: GAC Aion

With 3,244 vehicles sold, GAC Aion gained a growth of 104.93% year over year. Thanks to the upward movement created by the NEV-focused subsidiary, GAC Group witnessed its NEV sales zoom up 141% year over year to 3,929 units in February. Moreover, the group also sold 10,481 energy-saving vehicles during the same period, up by 616.9% from the previous year.