Guangzhou Automobile Group Co Ltd

Updated: Dec 14, 2017 Print
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Guangzhou Automobile Group Co Ltd

Guangzhou Automobile Group Co Ltd (GAC Group,广汽集团) is a large state-owned joint-stock company. Its predecessor, Guangzhou Automobile Group Company was established in June 1997. GAC Group is the first to be listed in both the A-Share and H-Share markets among all state-owned auto groups.

The company is engaged in diversified business for both the domestic and international market, including the design and production of vehicles and parts, auto sales and logistics, and related services such as finance and insurance. GAC Group possesses a complete and independent production system, covering the manufacture, supply, sales and R&D.

GAC has been placed in the Fortune Global 500 list for five consecutive years since 2013. In 2017, GAC ranked No 238th in Fortune Global 500, No 52 in Top 500 Chinese enterprises, No 6 in Top 500 Guangdong enterprises, No 2 in Top 500 Guangzhou enterprises.

Adhering to joint investing and independent innovation, GAC is engaged in diversified business including R&D and manufacturing for vehicles (automobiles and motorcycles) and parts, automotive trade services, automotive financial services etc. It is also the first automobile group with multiple non-bank financial licenses for insurance, insurance brokerage, auto financing, capital, finance, and financial leasing. Currently, GAC owns or has directly invested in dozens of businesses, including GAC Motor, GAC Honda, GAC Toyota, GAC Mitsubishi, GAC Fiat Chrysler, and GAC Engineering.

As GAC's core business, the vehicles sector has formed a tripartite layout with self-owned brands, Japanese series and European-American series, all of which grew in the first half of 2017. During this period, the automobile sales volume reached 963,500 units, up by 31.65 percent on year-on-year basis, and 28 percent points higher than the industrial average growth rate (3.81 percent). Its motorcycles achieved a sales volume of 472,100 units. These numbers of major operational indicators such as production and sales volume have proved the best performers in recent years.

During the 13th Five-Year-Plan period (2016-20), GAC will strengthen the five major sectors, namely R&D, vehicles, parts, trade services and financial services, strive for leapfrog development of self-owned brands with concentrated efforts, make major breakthroughs in electrification, internationalization and connectivity. GAC will make utmost efforts to double its major indicators by 2020 compared with the end of 12th Five-Year-Plan period, to accomplish automobile production of 2.4 million units, turnover more than 400 billion yuan, and pro-tax profit more than 50 billion yuan.

In April of 2017, GAC released its new brand slogan "Crafted by the Driven" and fully implemented its new brand strategy. In the future, GAC will adhere to the brand core "Detailing Greatness" to pursue excellence with the spirit of craftsmanship, to create value for customers, staff, partners, investors, industry and the whole society, to become a value creator of mobile life and a leading international automobile brand.

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