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GAC’s 30% compound growth rate in the past two decades lies in open cooperation

Biwen Wang From 盖世汽车| June 09 , 2017

GAC salesGAC compound growth rateGAC sales,GAC compound growth rate

GAC Group keeps a compound growth rate of nearly 30% in the past two decades. Currently, Feng Xingya, General Manager of GAC Group, told media that the key in its growth success lies in the cooperation with foreign brands and consistent self-innovation. In the future, GAC Group will continue to launch “13th-five” plan and seize the “Belt and Road” development opportunities to create global brands.

Data shows that GAC Group only sold 10,000 units with sales revenues of RMB 2.7b twenty years ago. But now, production and sales volumes of GAC Group exceed 1.65m units, and it plans to achieve an annual target of 1.9m units in 2017 with the sales revenue of RMB 280b.

Feng Xingya believes that, the fast developments are relying on the auto industry’s rapid expansion and Chinese economy’s rapid growth all these years. GAC Group always sticks to the open cooperation with foreign brands by making full use of joint-venture companies’ talents, capital and technologies to create self-independent brands.

Currently, GAC Group has formed three major businesses including self-independent brands, Japanese joint-venture brands and European joint-venture brands with balanced developments among them. GAC Toyota, GAC Mitsubishi and other joint-venture companies started to use the new logo from the end of last year, showing the equal and beneficial cooperative partnerships.

In the future, GAC plans to become a globally-known and highly responsible auto group by launching the “1513” strategy. Surely, it will face great challenges, but its steady developments also make us optimistic towards its futures.

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