GAC Group sees Jan.-Apr. sales grow 7.14% YoY

Shanghai (Gasgoo)- For the first four months of 2022, GAC Group sold 732,471 new vehicles, representing a 7.14% year-on-year growth, the auto group announced on May 6.

The growth in the year-to-date sales mainly flowed from the increase achieved by GAC Toyota, GAC Motor, and GAC AION. Notably, the NEV-dedicated GAC AION scored a three-digit year-on-year surge of up to 112.58%.

However, two Sino-Japanese joint ventures—GAC Honda and GAC Mitsubishi—recorded a downward movement in Jan.-Apr. sales compared to the previous year.

Of the vehicles sold in the Jan.-Apr. period, 64,184 units and 132,415 units were new energy vehicles (NEVs) and energy-saving vehicles, representing a year-on-year hike of 103.99% and 74.16% respectively.

As for monthly sales, GAC Group saw its sales decline 33.56% over a year ago to 124,304 units in April. Despite the decrease in the overall sales, GAC AION still attained a two-digit year-on-year growth.

The group noted specially that its MPV sales in April rose 8.1% from the year-ago period to 15,015 units, 8,036 units of which were the Trumpchi M8s.

While releasing the April sales results, GAC Group also announced that its wholly-owned subsidiary GAC Capital intends to team up with Yuexiu Industrial Fund to launch a 1 billion yuan ($149.894 million) worth of industrial fund. The joint fund will focus on the investment in hydrogen energy, energy storage, new materials, and other fields related to NEV and ICV industrial chains. The announcement came only one month after the two parties penned an agreement to form a strategic partnership.