GAC Group's Sept. 2024 vehicle sales decline YoY, but jump MoM

Shanghai (Gasgoo)- GAC Group announced on Wednesday that its vehicle sales volume reached 182,626 units in September 2024, falling 25.03% over the previous year, but jumping 23.24% over the previous month.

Breaking down the September sales by vehicle types, the passenger vehicle (PV) sector recorded a sales volume of 182,536 units, representing a year-on-year decline of 25.06%. To be more specific, the sedan segment posted the biggest year-on-year decline at 44.91% with 52,434 units sold last month. Meanwhile, the group's SUV and MPV sales amounted to 101,205 units and 28,897 units, sliding 15.09% and 1.07% from a year earlier, respectively.

In addition, GAC Group also sold 90 commercial vehicles (CVs) last month, which surged 350% compared to the year-ago period.

For the first three quarters of 2024, GAC Group saw its cumulative vehicle sales shrink 25.59% over a year ago to 1,335,050 units, including 1,334,699 PVs (-25.6% YoY) and 351 CVs (+18.58% YoY).

Of the vehicles the group sold last month, 46,896 units were contributed by the new energy vehicle (NEV) unit, indicating a year-on-year decrease of 19.11%. For the first nine months of the year, GAC Group sold a total of 282,444 NEVs, which dipped 28.3% from the prior-year period.

As for sales performances of each subsidiary, GAC Honda saw its monthly sales plunge 42.82% over a year earlier to 35,130 units in September. GAC Toyota also faced a two-digit year-on-year decline at 21.78% in its September sales, which stood at 72,278 vehicles. GAC Trumpchi sold 34,768 vehicles last month, displaying a 6.75% drop from the previous year. Besides, GAC AION, which is dedicated to selling electric vehicles, logged a sales volume of 40,360 vehicles, a year-on-year downward movement of 21.78%.