GAC Group faces YoY dip in Aug. auto sales, but scores YoY surge in both NEV sales, export volume

Shanghai (Gasgoo)- GAC Group sold a total of 196,761 new vehicles in August 2023, representing a 4% month-on-month rise, but still marking a 9.68% year-on-year decrease, according to the monthly sales results it issued last Friday.

The year-on-year sliding trend in August sales mainly resulted from the two-digit decline that confronted the sales of two major Sino-Japanese joint ventures. To be specific, GAC Honda's August sales plunged 40.22% over a year ago to 42,469 units, while GAC Toyota recorded a 16.56% year-on-year drop with 70,600 vehicles sold last month.

Despite the downturn in overall monthly sales, GAC Group still saw its new energy vehicle (NEV) sales in August surge 62.68% from the previous year to 49,526 units. Of them, 45,026 units were contributed by GAC AION, indicating a 66.63% spike over the year-ago period.

In addition, GAC Motor, the wholly-owned passenger vehicle maker of GAC Group, sold 37,585 vehicles last month, which jumped 25.47% over the prior-year period.

AION S; photo credit: GAC AION

As for the performance of main products, GAC Group said it had six models in total whose respective August sales all exceeded 10,000 units, namely, the AION S (22,896 units), the Frontlander series (19,756 units), the AION Y (18,224 units), the Camry series (15,719 units), the Wildlander series (11,576 units), and the Accord series (10,238 units).

For the first eight months of this year, GAC Group sold 1,550,665 vehicles, which edged down 2.34% from a year earlier. Notably, its year-to-date NEV sales still soared 96.64% year on year to 335,939 units.

What's more, GAC Group also reported an export volume of 6,048 vehicles (+232.9% YoY) for the month of August, resulting in a year-to-date volume of 32,116 units (+55.2% YoY).