GAC Group scores 80.35% YoY spike in Jan.-Nov. new energy vehicle sales

Shanghai (Gasgoo)- GAC Group announced on Tuesday its auto sales reached 227,124 units in November 2023, jumping 19.35% over the previous year. For the first 11 months of this year, the Guangzhou-based auto giant sold 2,245,837 vehicles in total, which edged up 0.81% year over year.

Despite the modest growth in year-to-date auto sales, GAC Group's new energy vehicle (NEV) sector boasted a remarkable year-on-year surge of 80.35% with 490,925 units sold through the Jan.-Nov. period. In Nov. alone, the group sold 50,231 NEVs, representing a 48.89% leap over the previous year.

Regarding the sales performance by specific subsidiaries, GAC AION, the group's NEV-dedicated unit, saw its Nov. sales surge 44.51% year over year to 41,567 units, which account for 82.75% of the group's overall NEV sales. This year, the company has sold 434,056 vehicles as of Nov., indicating a robust year-on-year spike of 79.99%.

GAC Motor, the group's self-owned passenger vehicle subsidiary, scored a 44.21% year-on-year spike in its Nov. sales, which amounted to 37,216 units. For the first 11 months of this year, its cumulative sales jumped 14.36% year on year to 371,180 units.

As for the two major Sino-Japanese joint ventures, both GAC Honda and GAC Toyota faced a year-over-year decrease in their year-to-date sales, but witnessed an upward movement in Nov. sales. GAC Honda sold 61,778 vehicles last month, showing a year-over-year leap of 31.8%, while GAC Toyota’s Nov. sales edged up 0.94% over a year earlier to 86,000 units.