GAC GROUP's performance rebounded in the third quarter in an all-round way.

SMM News: October 29th evening, GAC GROUP released the third quarter of 2020 financial results. In the first three quarters of this year, GAC GROUP achieved operating income of about 42.846 billion yuan, an increase of 0.38% over the same period last year; net profit belonging to shareholders of listed companies was about 5.001 billion yuan, down 21.04% from the same period last year; and non-net profit belonging to shareholders of the parent company was about 4.364 billion yuan, a slight increase of 0.08% over the same period last year.

In terms of sales, GAC GROUP sold a total of 1.4072 million cars from January to September, down 6.69% from the same period last year, or 3.18 percentage points lower than that from January to August. Among them, GAC Honda sold 550000 vehicles in the first three quarters, while GAC Toyota sold 543400 vehicles in the first three quarters, an increase of 9.52% over the same period last year. In addition to Guangzhou Auto "Liangtian" continues to maintain strong growth, GAC GROUP independent brand sales performance in September is also quite eye-catching. GAC sold 98900 vehicles in the third quarter, up 9.54 per cent from the same period last year, while GAC NE sold more than 38000 vehicles in the first three quarters, up 75 per cent from the same period last year.

During this year's Beijing Auto Show, GAC MOTOR released a new brand marketing strategy, with the "e-TIME Action" plan as the guide, everything with customer experience as the center, and GAC MOTOR focused on the three major sections of product value-added, science and technology value-added, and service value-added, to achieve the goal of adding value for consumers, gaining for dealers, and empowering GAC MOTOR. After experiencing the tremendous impact of the COVID-19 epidemic on the entire automobile industry in the first half of the year, GAC GROUP has got rid of the impact of the epidemic and the business situation has warmed up in an all-round way in the third quarter.