On October 30, GAC released its Q3 2024 report. The report indicated that GAC's aggregated revenue for the first three quarters was RMB 74.04 billion. The aggregated revenue for the third quarter alone was RMB 28.232 billion, reflecting a 15.41% increase compared to the previous quarter. Amid fierce competition in the automobile industry, GAC continued to accelerate its expansion into international markets, leading to a 112% year-on-year increase in its total automobile export volume from January to September. Additionally, it has further optimized its investment structure, with several invested or incubated enterprises going public this year.

To fully adapt to the profound changes in the automotive market, GAC has recently announced a major reform. The management model for its proprietary brands will shift from strategic control to operational control, accompanied by a simultaneous organizational reform. In addition, the company’s headquarters will be relocated to Panyu Auto City in Guangzhou. This move aims to facilitate the comprehensive development of the proprietary brands, accelerate the Group’s transformation and adjustment, and ensure sustained, healthy, and high-quality development.

The new site of the GAC building in Panyu Auto City, Guangzhou

Data from the China Association of Automobile Manufacturers (CAAM) indicated that China's auto sales reached 7.524 million units in the third quarter of 2024. This marked a 2.7% increase compared to the previous quarter. GAC's auto sales totaled 474,300 units in the third quarter, marking a 3.9% increase from the last quarter. From January to September, GAC's wholesale and retail sales reached 1.335 million units and 1.433 million units, respectively. Among these, the wholesale sales of new energy and energy-saving vehicles totaled 588,400 units, accounting for more than 44%, a 4 percentage point increase compared to the previous year.

AION joined the Qatar market with the official launch of AlON Y Plus

GAC unveiled the new model M6 Pro at the Vietnam Motor Show

GAC held a grand brand launch and product launch in South Africa

GAC DAY branding event in Mexico

Data shows that GAC exported 95,000 vehicles in the first three quarters, a 112% year-on-year increase. Internationalization, as a key incremental momentum of “Trillion GAC”, has driven significant progress during the reporting period. Several of GAC's flagship models have been launched in key countries and regions such as Central Asia, Southeast Asia, Africa, and the Americas. The second-generation AION V is now ready to enter the global market, marking the beginning of a new phase of global growth for GAC.

2nd-generation AION V rolled off the production line globally at the smart factory in Thailand

While expanding vehicle exports, GAC is accelerating localized production in key markets such as Southeast Asia. The plant in Indonesia is currently under construction and is expected to be completed and operational by early 2025. By that time, GAC will use the two plants in Thailand and Indonesia as core facilities to meet the market demand in Southeast Asia and other countries around the world.