GAC Annual Manufacture and Sales Volume Will Reach 1 Million: First 10 Months Increase Almost 30%

GAC Group has not away from good news since Nov. According to GAC Group Oct manufacture and sales bulletin, the company has sold 86 thousand cars, which has dramatically increased 162% over the figure of last year, which meanwhile has 71% more than Sept increase. The first 10 months sales are 754 thousand, which has increase 30%.

Besides, according to recent released the third quarter financial report of GAC, the company is still one of the highest profit margin auto companies. Profit margin is 18.04%, which is a typical GAC style: no chasing quantity, but quality. It shows a strong profitability.

GAC Honda and GAC Toyota are right-hand men of GAC. After one year recovery, Japanese brand of GAC recovers obviously. Influenced by Diaoyu Island, GAC Honda and GAC Toyota market share are even dropped to 1.2% and 0.6% in last July.

GAC Honda will introduce A0 class SUV, which will share segment fast growth with Encore and Ecosport. GAC Toyota will introduce its new Yaris-L, and another A class sedan will launch market next year. All above situation will bring good news for GAC.

However, new brand GAC Fiat and GAC Mitsubishi sales of Oct are only 3,353 and 4,457, which both decline over Sept. Meanwhile, GAC Gonow, Honda China, GAC Hino and GAC Bus of GAC Group have declined around 19% to 31% as well.

However, although GAC Fiat still will lose because of type and volume, new Hatchback Fei Xiang will launch market next year. Besides, Fiat Jeep China made will boost GAC Group sales.

Besides, new brand GAC Mitsubishi already realizes profit in single month. It is expected profit in the fourth quarter. Single month sales are around 4,500. Changsha plant will finish next year and increase production capacity to 130 thousand. New cars like Pajero Sport introducing will boost sales in the future as well.

What is surprising, GAC owned brand profitability substantial improved. Trumpchi GS5 is sold around 5000 per month at present. The fourth quarter GA3 sales is expected increase, but GA3 and GA5 sales still fatigue. GAC will introduce a new SUV into market in the next year. It is expected a good market performance after GS5. Song WU, general manager of GAC passenger car, said that GAC passenger car has released profit more than 250 million Yuan accumulated from Jan to Sept.