On April 8, GAC Group announced its March 2024 production and sales report. According to the data, in March 2024, the wholesale sales of GAC Group's automobiles were 179327 units, a year-on-year decrease of 22.62%. At the same time, from January to March this year, GAC Group's cumulative sales were 409698 vehicles, a year-on-year decrease of 24.11%.
Although the two joint venture brands, GAC Toyota and GAC Honda, have accelerated the deployment of new energy vehicles and accelerated the transformation of electrification, their performance in March this year still did not achieve the expected results, affecting the overall performance of GAC Group.
Among them, as the main joint venture brand of GAC Group, GAC Honda's sales in March were 52,587 units, compared with 70,110 units in the same period last year, a year-on-year decrease of 24.99%; at the same time, from January to March this year, GAC Honda's cumulative sales were only 116976 units, compared with the sales volume of 149474 units in the same period last year, a year-on-year decrease of 21.74%.
At the same time, the performance of another joint venture brand, GAC Toyota, also showed a relatively obvious downward trend. According to the data, in March 2024, GAC Toyota's sales volume will be 65,000 units, compared with 81,300 units in the same period last year, a year-on-year decrease of 20.05%, while from January to March this year, GAC Toyota's cumulative sales will be 156054 units, compared with the cumulative sales of 220,000 units in the same period last year, a year-on-year decrease of 29.07%.
In addition, GAC Passenger Vehicle's sales in March were 33,213, compared with 35,179 in the same period last year, a year-on-year decrease of 5.59%, and from January to March this year, GAC Passenger Vehicle's cumulative sales were 85,484, compared with 83,601 in the same period last year, a slight increase of 2.25% year-on-year.
GAC Aion's sales in March this year were 27,856 units, compared with 40,025 units in the same period last year, a year-on-year decrease of 30.4%, and it was the car company with the most serious year-on-year decline in a single month among several brands. And in the cumulative sales from January to March, GAC Aion's cumulative sales were 48,867 units, down 37.60% year-on-year.
Written at the end of the article
It can be seen that the decline of the main car companies GAC Toyota and GAC Honda has directly affected the overall trend of GAC Group, and the performance of GAC Group's own brands is not strong enough, especially the performance of Aion has also exposed the lack of stamina of the brand.
However, in the first three months of 2024, GAC Group's production and sales are on a year-on-year decline, and it is still difficult to achieve the goal of increasing sales by 10% in 2024.