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Agricultural Development Bank of China
Company

Guangzhou Automobile sees 4.4 pct sales decline in Q1

April 10, 2019


Abstract : Chinese automaker Guangzhou Automobile Group Co. Ltd. (GAC Group) posted a 4.4 percent decline in auto sales in the first quarter of 2019, mainly dragged down by a plunge in SUV sales.

SHANGHAI, April 10 (Xinhua) -- Chinese automaker Guangzhou Automobile Group Co. Ltd. (GAC Group) posted a 4.4 percent decline in auto sales in the first quarter of 2019, mainly dragged down by a plunge in SUV sales.

Its automobile sales in the January-March period totalled 471,912 units, the carmaker said in a filing to the Shanghai Stock Exchange.

During the three months, its sedan sales rose nearly 20 percent year-on-year to 251,821 units, and the MPV sales surged 71.9 percent to 22,193 units. But SUV sales fell 27 percent to 197,201 units.

In addition, the carmaker reported sales growth with GAC Honda Automobile and GAC Toyota Motor, but declines with all other subsidiaries.

Sales at Honda and Toyota joint ventures rose 3.9 percent to 178,593 units and 32.8 percent to 139,613 units, respectively. Its own brand GAC Motor saw auto sales fall 26.5 percent to 104,540 units.

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Keyword: China-auto-sale GAC Group

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