GAC Group scores 2-digit YoY growth in May 2023 auto production, sales volume

Shanghai (Gasgoo)- In May 2023, GAC Group achieved positive growth in both auto production volume and sales. The group produced 224,413 vehicles and sold 209,606 vehicles in the month, representing year-on-year increases of 16.61% and 14.5%, respectively.

In the first five months of this year, GAC accumulated a total production and sales volume of 965,357 vehicles and 926,705 vehicles, indicating a year-on-year rise of 5.02% and 1.22%, respectively.

Looking at the performance of various subsidiaries under GAC Group in May, the focus was particularly on the performance of the two major Japanese joint ventures. The data released showed that GAC Toyota's production and wholesale sales in May were 79,233 vehicles and 73,600 vehicles, respectively, with decreases of 8.85% and 12.17% from a year earlier.

GAC Honda performed well in May, supported by the launch of the all-new Accord. The company achieved production and sales volumes of 70,427 vehicles and 54,408 vehicles, respectively, displaying year-on-year growth of 43.61% and 15.46%. However, when looking at the performance in the first five months of this year, GAC Honda has not yet reached the level of the same period last year.

AION S Plus; photo credit: GAC AION

Among the group’s self-owned brands, GAC AION stood out with impressive performance. The company produced and sold 43,214 vehicles and 44,875 vehicles in May, with year-on-year growth rates of 95.19% and 113.12%, respectively. In the Jan.-May period of this year, GAC AION's cumulative sales reached 164,205 vehicles, doubling compared to the same period last year. With this development trend, the new energy vehicle (NEV) maker is expected to achieve its annual sales target of 500,000 vehicles.

GAC Motor's performance in May was decent. The company produced 29,945 vehicles, a year-on-year decrease of 10.83%, and wholesaled 34,093 vehicles, which jumped 16.16% from the year-ago period. So far this year, GAC Motor has accumulated a production and sales volume of 145,019 vehicles and 146,928 vehicles, both achieving positive growth compared to the same period last year.

GAC Group aims to challenge a 10% year-on-year growth in both automobile production and sales in 2023. However, based on the performance in the first five months of this year, the group will need to continue to exert efforts during the upcoming traditional off-season in order to achieve the annual target.