GAC Group expects to score two-digit YoY growth in 2022 auto output, sales

Shanghai (Gasgoo)- GAC Group expects a double-digit year-on-year growth in its full-year automobile output, sales volume, gross industrial output value, and local industrial output value in Guangzhou city for the year of 2022, the company said at a press conference held today by the Information Office of Guangzhou Municipal People's Government.

For the first eleven months of 2022, GAC Group produced and sold 2.28 million and 2.23 million vehicles, representing a year-on-year growth of 21.9% and 16.6%, respectively.

AION S; photo credit: GAC AION

It is worth mentioning that GAC AION, the new energy vehicle (NEV)-dedicated subsidiary of GAC Group, saw its Jan.-Nov. production and sales volumes both exceed 240,000 units, more than doubling over the year-ago period.

According to Yin Jie, the director of GAC Group’s brand public relations department, the Guangzhou-based auto giant generated a gross industrial production value of 396.3 billion yuan ($56.926 billion) through the first eleven months of this year, reflecting a 29.7% growth over the previous year. Notably, the Jan.-Nov. industrial output value in Guangzhou jumped 31.6% from a year earlier to 375.45 billion yuan ($53.931 billion).

Yin Jie also noted that in the rest days of the 14th five-year plan period (2021-2025), GAC Group plans to pour 85 billion to 100 billion yuan ($12.21 billion-14.364 billion) in R&D of the technologies related to intelligent-connected vehicles and new energy vehicles.

GAC Group aims to produce and sell 3.5 million vehicles annually, and achieve yearly revenues of over 600 billion yuan ($86.186 billion) by 2025.