GAC Motor sees 43% YoY slump in Jan.-Feb. sales

Shanghai (Gasgoo)- By the end of February, GAC Group has sold a total of 311,974 vehicles in 2019, posting a year-on-year decline of 4.02%. Of that, its sales in February reached 102,265 units, which was 11% less than that of a year ago.

During the first two months, the group's PV sales edged down 3.98% from a year ago to 311,618 units. Although, sedan and MPV sales leapt 27.14% and 79.81% respectively to 169,419 units and 14,338 units, the year-on-year slump falling on the SUV sector directly led to the negative growth of the total PV sales.

Aside from two major Sino-Japanese joint ventures—GAC Honda and GAC Toyota, the other subsidiaries all faced year-on-year drop in both Feb. sales and Jan.-Feb. sales. GAC Toyota gained a remarkable growth up to 56.77% in year-to-date (YTD) sales and its monthly sales also showed an impressive increase of 20.37%. It is noteworthy that Toyota was also the champion Japanese carmaker by Feb. sales in China, the second month in a row gaining the reputation.

GAC Honda has been keeping a stable rising momentum so far this year. In February, its sales climbed 6.41% over the year-ago period to 42,062 units. According to Honda's sales report, the sales of the Fit and the Crider jumped 27.5% and 13.2% year on year to 9,035 units and 7,511 units. The joint venture plans to roll out three new models this year, including the new Vezel, the Odyssey hybrid version and an all-new mid-sized SUV.

GAC Motor saw its Feb. sales plunge 40.02% from the previous year, facing downturn for the second month in a row. The China-owned subsidiary currently owns 10 models in total, including 2 MPV models, 3 sedan models and 5 SUV models. However, its sales performance heavily relies on such SUV products as the Trumpchi GS4.