GAC Group sees new energy vehicle wholesales soar 71.83% YoY in Jan. 2024

Shanghai (Gasgoo)- GAC Group said its vehicle wholesale volume reached 131,970 units in the first month of 2024, declining 10.18% compared to the prior-year period. 

Of the vehicles wholesaled last month, 131,876 units were passenger vehicles (PVs), including 66,999 cars, 62,150 SUVs, and 17,764 MPVs. 

In the same month, the group's new energy vehicle (NEV) sales still surged 71.83% from the previous year to 18,766 units despite the downturn in the overall vehicle sales. 

Notably, GAC Group also reported a retail sales volume of 194,423 vehicles for the month of January, indicating a 45.3% leap over a year earlier. 

Breaking down the January wholesales by specific subsidiaries, both GAC Honda and GAC Toyota faced a year-on-year drop, but still outsold the two main entities wholly operated by GAC Group. GAC Motor recorded a wholesale volume of 33,799 units, which soared 45.2% from the year-ago period. In addition, GAC AION, the subsidiary dedicated to producing and selling battery electric vehicles, scored a 34.11% in January wholesales, which stood at 11,005 units.

As for noteworthy movement for GAC Group's overseas business, GAC AION officially commenced the construction of its Thailand factory project in the Rayong Industrial Park, Rayong Province on January 26.

As the inaugural overseas production facility for GAC AION, the Thai factory project involves a total investment of 2.3 billion Thai Baht, with a planned annual production capacity of 50,000 vehicles. The project will be executed in two phases, with the completion of the first phase slated for July of this year.