GAC Group's Net Profit soared 55% Year-on-Year

Shanghai August 25^th, 2017 Gasgoo -GAC Group released its semi-annual report on August 23^rd showing that its total operating revenue reaches RMB 34.77b in the first half year with a year-on-year growth of 55.29%. The operating revenue for passenger vehicles reaches RMB 25.07b. Besides, media report that GAC Motor will also change name as “GAC Trumpchi” in September.

In the first half of the year, GAC Group achieved the production and sales volume of 973,000 units and 963,500 units respectively, growing 30.78% and 31.65% year-on-year. It has accomplished more than half of its annual sales target of 1.9m units, ranking top among all major auto companies. It’s analyzed that the high growth of self-owned brands, steady growth of domestic Jeep models and lifting competitive power of GAC Toyota and GAC Honda result in the good performance. Besides, the lifting sales volume of GAC self-owned brands and joint-venture brands, as well as the enlarging financial services, auto part businesses and commercial businesses across the industrial chain, also contribute to the growing sales volume.