GAC Group eyes 10% year-on-year growth in 2021 auto sales

Shanghai (Gasgoo)- GAC Group aims to achieve a year-on-year increase of 10% in 2021's full-year auto sales, according to an operation plan the company approved on Dec. 25.

Trumpchi GS4; photo credit: GAC Trumpchi

The Guangzhou-based automaker said its annual production and sale outputs are anticipated to reach 2.026 million and 2.044 million units in 2020, edging down 0.1% and 0.8% over a year ago. For the month of December, the auto sales are expected to reach roughly 210,000 units.

GAC Group was posting year-over-year growth of over 10% for five consecutive months since July. Notably, the growth stood at up to 21.53% in October.

GAC Group can outpace the overall auto market mainly thanks to the high-speed growth for two major Sino-Japanese joint ventures, said a senior analyst at Gasgoo Auto Research Institute. Starting from July, GAC Honda has been sustaining more than 20% year-over-year increase starting from July, while GAC Toyota’s monthly sales have continuously representing over 10% growth.

For the first eleven months of 2020, GAC Group’s sales totaled 1,834,697 units, dropping 2.21%, versus 3.79% decrease in Jan.-Oct. sales.

To achieve 2021's sales target, the automaker plans to roll out two all-new models, a refreshed model and several face-lifts under its self-owned brands.

GAC Group has two self-owned brands, namely Trumpchi and GAC Aion, which was announced as an independent brand at the Auto Guangzhou 2020 and operates parallel to the former. According to a local report, the aforementioned two fire new models would be the Trumpchi EMPOW55 fuel-burning sedan and the Aion Y all-electric SUV.