Guangzhou Automobile sees 4 pct sales decline in Jan.-Feb.
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E-mail Xinhua, March 11, 2019
Chinese automaker Guangzhou Automobile Group Co., Ltd. (GAC Group) posted a 4 percent decline in its auto sales in the first two months of 2019, mainly dragged down by a plunge in SUV sales.
Its automobile sales in January and February totalled 311,974 units, compared to 325,055 units in the same period last year, the carmaker said in a filing to the Shanghai Stock Exchange late Sunday.
During the period, its sedan sales rose 27.1 percent year on year to 169,419 units, and the MPV sales surged 79.8 percent to 14,338 units. But the SUV sales fell 30.3 percent to 127,861 units.
In addition, the carmaker reported sales growth with GAC Honda Automobile and GAC Toyota Motor, but sales declines with other subsidiaries.
Sales at Honda and Toyota joint ventures rose 3.3 percent to 115,679 units and 56.8 percent to 106,906 units, respectively. Its own brand GAC Motor saw auto sales fall 43 percent to 54,232 units.
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