AutoBeta(AutoBeta.net)04/01 Report--

GAC GROUP, which owns Guangzhou Auto Toyota, Guangzhou Automobile Honda, Guangzhou Auto Fick, Guangzhou Automobile Mitsubishi, GAC MOTOR and other brands, achieved a total sales of 2.1479 million vehicles in 2018 and set a sales target of 2.225 million vehicles in 2019, only a slight increase.

GAC GROUP's cumulative sales in 2018 reached 2.1479 million, an increase of 7.34% over the same period last year, mainly from joint venture brands. Among them, GAC Honda sold 741400 vehicles, up 5.16% from the same period last year; GAC Toyota sold 580000 vehicles, up 31.11% from the same period last year; and GAC-Mitsubishi sold 144000 vehicles, up 22.69% from the same period last year. GAC MOTOR, the independent brand, sold 535200 vehicles in the whole year, an increase of 5.23% over the same period last year.

In 2019, GAC GROUP achieved a total operating income of about 72.38 billion yuan and a net profit of about 10.903 billion yuan, with a small increase.

However, in 2019, the car market is in a downward state, GAC joint venture brands are polarized, and independent brands are also in a big decline. In January-February sales statistics, only Honda and Toyota achieved sales growth, while Chuanqi, Mitsubishi and Fick declined across the board.

Among them, GAC Toyota's cumulative sales reached 106906 vehicles from January to February, an increase of 56.77% over the same period last year. GAC Honda was basically stable, with a relatively small increase, with sales up 3.3% to 115700 vehicles from January to February.

Guangzhou Auto Fick and Guangzhou Automobile Mitsubishi have gone backwards. Guangzhou Auto Fick's sales in January-February were only 14000, down 34.5%, which is the 14th consecutive month of decline in sales. Guangzhou Auto-Mitsubishi still has fewer models at present, and the slow upgrading of models can not keep up with the products. As a result, sales have declined one after another, with a decline of 25.6% to 19000 units from January to February.

Independent brand GAC MOTOR suffered the worst decline, with sales of 54000 units in the first two months, down as much as 43 per cent from a year earlier.

It can be expected that even if GAC GROUP's sales increase in 2019, it will basically come from the contribution of "Liangtian", and the competitiveness of other brands will decline, especially the independent brand GAC MOTOR will face greater competitive pressure.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat