GAC Group clocks 2.98% YoY growth in Nov. sales

Shanghai (Gasgoo)- In Nov. 2021, GAC Group saw its monthly auto sales climb 2.98% year on year to 224,136 units, according to the automaker's sales results, putting an end to the five consecutive months of decrease caused by the chip shortage.

The increase in Nov. sales primarily flowed from the sales rise achieved by GAC Toyota, GAC Motor, and GAC AION.

As GAC Group's self-owned NEV subsidiary, GAC AION sold 15,035 vehicles last month, representing a 109.11% year-on-year hike and accounting for 84.7% of GAC Group's total BEV wholesales. Its year-to-date sales exceeded 100,000 units, rocketing 102.26% compared to the prior-year period.

AION V; photo credit: GAC AION

GAC AION will have its registered capital grow to 6 billion yuan ($941.842 million) by nabbing cash and physical assets from GAC Group and GAC Motor, and through other capital restructuring measures, GAC Group announced in late Nov. The move signifies a significant progress in GAC AION's mixed-ownership reform, which will grant the NEV maker stronger capabilities of independent operation and profit making.

GAC Toyota outsold the other subsidiaries in both November and year-to-date period. The China-made Sienna hit the market on October 30 and is expected to strengthen the joint venture's presence in the MPV segment.

2nd-generation Trumpchi GS8; photo credit: GAC Motor

GAC Motor, who owns GAC Group's self-owned PV brand Trumpchi, scored a 6.56% year-on-year increase in Nov. sales. Its Jan.-Nov. sales grew at a double-digit growth rate from a year earlier.

GAC Honda failed to weather the chip crunch with both Nov. and year-to-date sales hit by downturn.