GAC Group’s auto sales significantly drop in Feb., but new energy PV sales still surge

Shanghai (Gasgoo)- GAC Group sold 19,347 new vehicles during the anti-coronavirus month, suffering a year-on-year plunge of 81.08%. With 195,618 units sold in total, the decrease in year-to-date sales stood at 37.3%.

Meanwhile, roughly 221,000 consumers took delivery of GAC's vehicles during the first two months, the automaker revealed via its WeChat account.

（Photo source: GAC NE)

A shining point worth mentioning is that the group's new energy PV sales in February still surged 51% from the previous year to 1,630 units, of those 1,619 units were the contribution of GAC NE, a number doubled over the prior-year period. Therefore, the group sold a total of 6,524 new energy PVs between Jan. and Feb. with a remarkable growth of 86%. Meanwhile, the year-to-date volume of GAC NE also soared 66% from a year earlier to 4,621 units.

Last month, all subsidiaries were inflicted heavy sales decrease of over 70%. Among them GAC Motor was the least-hit one with a drop of 72.08%. The group's self-owned PV unit was also the only subsidiary that achieved growth in January. Besides, GAC FCA and GAC Mitsubishi were bit by year-over-year plunge of over 90% with only 316 units and 350 units sold respectively.

(Photo source: GAC Group's WeChat account)

GAC Group claimed all its complete vehicle branches in Guangzhou had resumed production as of Feb. 17, and a week later, the Changzhou-based vehicle manufacturers entirely restarted works. Apart from vehicle production, the operation of suppliers and dealers are being moved ahead in an orderly manner. As of Mar. 6, there have been 95% of affiliated auto parts suppliers relaunching production and roughly 90% of franchised dealerships being reopened.

Guangzhou, where GAC Group is headquartered, has launched substantial incentives to provide a lift for automobile consumption. Moreover, from March to December 2020, the consumers who buy new energy vehicles will be given the combined subsidy of RMB10,000 per car, the government stated in an official file issued on March 1. To promote the vehicle upgrading and replacement, the consumers who replace or scrap used cars and the locally registered auto sales companies that purchase new vehicles befitting the China Ⅵ emission standard will be granted subsidy of RMB3,000 per car.