GAC Group posts YoY growth of 10.07% in August sales

Shanghai (Gasgoo)- Guangzhou Automobile Group (GAC Group) delivered a total of 173,540 vehicles in August, a year-on-year increase of 10.07%. For the first eight months, the group's YTD sales reached 1,360,071 units, climbing 6.3% over the previous year.

Last month, the automaker saw its PV sales growing 9.68% from a year ago to 172,627 units. As to the performance of each segment, the sales of the car and SUV amounted to 77,543 units and 88,000 units, up by 14.65% and 1.88% year on year respectively. The MPV sales in August skyrocketed 109.71% over the year-ago period to 7,084 units. From January to August, cumulative sales of the car and MPV segments all presented year-on-year growth, while the year-to-date sales of the SUV dropped 4.05% over a year ago.

GAC Motor, GAC's self-owned subsidiary, posted a year-on-year growth of 4.52% in monthly sales with 42,008 vehicles delivered in August. Its Jan-August sales reached 351,165 units, showing up a positive growth of 6.02% as well.

With respect to the sales performance of major joint ventures, GAC Honda encountered a year-on-year decline of 4.28% with its August sales totaling 55,314 units, while still outperforming other subsidiaries. Following GAC Honda, GAC Toyota witnessed its monthly sales surge 47.13% over the previous year to 54,540 units. Meanwhile, it handed over a total of 361,046 vehicles from January to August, achieving a year-on-year jump of 17.45%.

However, the Sino-French joint venture GAC FCA's sales slumped 33.51% to 8,515 units from 12,806 units delivered in August, 2017. The company also suffered a plunge of 52.39% in year-to-date sales with 87,391 vehicles handed over in total.