GAC Net Profit Doubled in Year 2013

GAC Group has published its sales achievement of year 2013, which has realized profit with 35% growth. It means that GAC has walked out of market crisis of Diaoyu Island with its market development. GAC forecasts its sales will increase 25% this year again.

Last year, GAC Group and its joint ventures have realized sales of 201.37 billion CNY, which has increased about 29.48% over last year. It includes GAC Group operation revenue of 18.82 billion CNY, which has increased 45.21% over last year. Group net profit even doubles than last year, which is about 2.67 billion CNY, which has increased 135.44% over last year, earning per share is about 0.41 CNY. Gross profit has increased from 5.49% of the year before last year to 10.85%.

GAC Group says its eye catching market performance is contributed by market recovery of domestic automobile industry. Besides, it is reflected of company year strategy and market development. GAC Group has introduced couple of new cars into market in year 2013, such as SUV mode Trumpchi GS5. Synergistic effect among other business units of the company, such as automobile parts, car finance, insurance, trade service etc. has support and walk forwards.

In year 2013, GAC group accessory its capacity build and new product introduction. The Group has realized production and sales with its joint ventures and affiliates 1.01 million and 1 million, which has increased 43.25% and 41.05% over the performance of last year. Motor production and sales have realized 1 million and 1 million, which has increased 2.43% and 5.16% over last year. Auto and Motor sales has both exceeded million, which hit the record high.

GAC Group forecasts that domestic automobile industry growth of year 2014 shall around 10%. Automobile energy saving policy will provide new opportunities for new energy cars, environment friendly cars. GAC will accessory its development this year, which aims 25% sales growth of this year.

Last year, besides its joint venture GAC- Honda, GAC- Toyota etc. Japanese cars welcome their sales recovery, its own brand Trumpchi and GAC- Fiat have strength GAC production and sales scale of GAC.