GAC Group sees huge growth in overseas sales

GAC Group, one of the major automotive companies based in Guangzhou, the capital of Guangdong province, realized a sharp increase in overseas sales in 2024, according to the company's annual financial report.

The company's overseas sales increased 67.6 percent, to 127,000 vehicles, during the year and its network of 490 outlets now covers 74 countries and regions, according to the report.

The company reported achieving significant milestones in its overseas sales of self-branded vehicles, with its proprietary brand vehicles surpassing 100,000 units for the first time in 2024, marking a year-on-year growth of 92.3 percent.

The company has actively promoted the localization of production and the expansion of its industrial ecosystem overseas, with its "completely knocked down", or CKD, factory in Malaysia, where vehicles are assembled from parts, and an intelligent factory in Thailand being successively put into operation in 2024.

The initial production capacity of the intelligent factory in Thailand is 50,000 units per year and the facility is expected to become GAC's automotive production hub in Southeast Asia.

Additionally, GAC has been accelerating the development of its key strategic locations and global on-site operational layout. As of 2024, a total of 11 overseas subsidiaries of the company have been registered.