GAC Group

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Guangzhou Automobile Group Co., Ltd.
public
Traded asSEHK2238, SSE: 601238
IndustryAutomotive
Founded1955; 64 years ago (1955)[1]
Headquarters,
Area served
China
Key people
Mr. Zhang Fangyou (Chairman)
ProductsCommercial vehicles
Passenger cars
Buses
Automotive components
ServicesVehicle leasing
After-sale services
Vehicle finance
RevenueCN¥ 12,964,000,000 (2012)[2]
CN¥ 1,134,000,000 (2012)[2]
ParentGuangzhou Automobile Industry Group
DivisionsTrumpchi
SubsidiariesDenway Motors
GAC Bus
GAC Changfeng Motor
GAC Gonow (51%)
Websitehttps://www.gac-motor.com
GAC Group
Simplified Chinese广州汽车集团股份有限公司
Traditional Chinese廣州汽車集團股份有限公司
Literal meaningGuangzhou Automobile Group Co., Ltd.

GAC Group (officially Guangzhou Automobile Group Co., Ltd.[3]) is a Chinese automobile maker headquartered in Guangzhou, Guangdong, and a subsidiary of Guangzhou Automobile Industry Group.

GAC sells passenger cars under the Trumpchi brand, passenger cars and commercial vehicles under the Gonow brand (now discontinued), SUVs under the Changfeng Motor brand, electric cars under the Aion brand, and buses under the GAC Bus brand. GAC produced 728,000 vehicles in 2012, and is the tenth largest in volume. It is the sixth-largest producer of passenger cars among Chinese automakers.[4] While the company is primary focused on consumer vehicles, it does make large passenger buses and commercial trucks[5] although it is outside the top ten commercial vehicle makers in China.[4]

GAC is currently known for its Honda-branded auto producing joint venture with this Japanese automaker, but the company has a total of five foreign partners—more than most Chinese automakers. These partnerships allow it to produce foreign-branded products for sale in China. These brands include: Fiat, Honda, Isuzu, Mitsubishi, and Toyota. Other brand names associated with GAC are Everus, for consumer vehicles, and Hino.

History[edit]

Guangzhou Automobile Group Co., Ltd. was founded in 1955,[1] and in 2005[6] become a holding of Guangzhou Automobile Industry Group[7] and a joint-stock company.[3] As of 2009 it was the 6th-largest automaker in China.[8]

In 2009, the company acquired 29% of the Chinese sport-utility vehicle maker Changfeng Automobile, becoming its biggest shareholder.[9] GAC purchased the remaining portion of Changfeng in 2011 completing its acquisition of the company.[10]

Previously a backdoor listing via Denway Motors,[8] GAC became listed under its own name on the Stock Exchange of Hong Kong in 2010.[9] In that year shareholders of Denway Motors approved its privatization by GAC.[11] Denway Motors was subsequently delisted on 25 August 2010 and replaced by Guangzhou Automobile Group (SEHK2238) on 30 August 2010 via stock swap.[9]

In late 2010 GAC purchased 51% ownership of Gonow, a midsize Chinese automaker of sport-utility vehicles, subcompacts, and pickup trucks.[9][12]

In December 2010 GAC launched the new Trumpchi marque. Its initial product was based on the Alfa Romeo 166.[13][14]

In 2010 GAC was among the ten largest Chinese carmakers[15] reaching number six[16] and selling 724,200 vehicles.[17]

2011 saw the company retain its position as the sixth-largest Chinese automaker by production volume, with GAC making 740,400 vehicles in that year.[18]

In early 2012, the company was listed on the Shanghai Stock exchange.[19]

On November 7, 2018, GAC Group entered the Philippines, with President Rodrigo Duterte welcoming the partnership between the manufacturer and distributor Legado Motors Inc. (LMI), which is owned by Narvacan Mayor Chavit Singson.[20][21]

Subsidiaries and divisions[edit]

GAC New Energy[edit]

The GAC New Energy Automobile Co., Ltd. (GAC NE) is the NEV arm of GAC. GAC New Energy produces their own EV brand, Aion, and sells the EV and PHEV Trumpchi models.

Vehicles built by and sold by GAC NE:

  • Aion S, a compact electric sedan.
  • Aion LX, a compact electric crossover.
  • Trumpchi GE3, a five-door subcompact electric crossover.

Vehicles built by Trumpchi and sold by both Trumpchi and GAC NE:

Changfeng Motor (Leopaard)[edit]

In 2009 GAC owned 29% ownership of this SUV-maker[22][23] a purchase supposedly imposed by the Chinese state as a condition of a then-upcoming joint venture with Fiat.[24] GAC completed its acquisition of Changfeng in 2011.[10] In 2012 Changfeng Group began moves to re-enter the vehicle business culminating in the move to a new headquarters in Changsha in January 2013 and the establishment of a new subsidiary, Hunan Liebao Automobile Co. Ltd., alongside the continuing Anhui Changfeng Yangzi Automobile Manufacturing Co., Ltd., to oversea manufacturing and marketing of vehicles under the Liebao or "Leopaard" brand.[25]

Gonow[edit]

Gonow (officially Zhejiang Gonow Auto Co., Ltd.) is a Chinese manufacturer of automobiles, commercial vehicles and SUV's headquartered in Taizhou, Zhejiang and a subsidiary of GAC Group. It markets its products under the brand name GAC Gonow in China and as Gonow in other markets.

Trumpchi[edit]

Trumpchi is an automotive marque owned by GAC Group which was launched in December 2010. The following Trumpchi vehicles are currently available in China:

Product gallery[edit]

GAC New Energy (Aion)[edit]

Guangqi Honda (Everus)[edit]

Changfeng (Leopaard)[edit]

Gonow[edit]

Trumpchi[edit]

Current joint ventures[edit]

GAC Fiat Chrysler[edit]

Fiat signed on to a joint venture with GAC on 6 July 2009,[26][27] and GAC FIAT Automobiles Co Ltd was incorporated on 9 March 2010.[28] The new company has a production base in Changsha, Hunan Province,[29] that opened on 28 June 2012[30] to manufacture the Dodge-Dart -based Fiat Viaggio.[31]

GAC Honda[edit]

Guangqi Honda is a 50:50 joint venture between GAC and Honda,[32] which has been making a number of Honda-branded vehicles for the Chinese market since 1999. In 2011 it started sales of its own brand, Everus.[33]

GAC Mitsubishi[edit]

GAC Mitsubishi Motors is a joint venture between GAC and the Japanese automaker Mitsubishi Motors. It became operational in September 2012 following a late 2010 memorandum of understanding.[34]

GAC Toyota[edit]

GAC Toyota Motor Co., Ltd. is a 50:50 joint venture between GAC and Toyota Motor Company which manufactures Toyota vehicles for the Chinese market. It was founded in 2004 and is headquartered in Guangzhou.[35]

Former joint ventures[edit]

Guangzhou Isuzu[edit]

Guangzhou Isuzu Bus Co Ltd was a coach manufacturing joint venture between GAC (51%), Isuzu Motors (33.67%) and Isuzu (China) Investment Co., Ltd. (15.33%) that was established on 6 March 2000.[36] Isuzu light trucks and buses were also built by Guangzhou Yangcheng Automobile (羊城汽车), a joint venture with Hong Kong China Lounge Logistics. Their light trucks are based on the Isuzu Elf and are marketed under the "YCACO" brand. Yangcheng's various bus building operations were merged with Guangzhou Isuzu Bus and Denway into the Guangzhou Bus Co. Ltd. in September 2008.[37] At the same time, Guangzhou Yangcheng's truck making arm was merged into Guangzhou Hino.[37]

Guangzhou Peugeot Automobile[edit]

One of the first Sino-western joint venture auto-making companies,[38] Guangzhou Peugeot Automobile Co Ltd was a joint venture set up by PSA Peugeot Citroën and the Guangzhou Municipal government between 1985[39] and 1997.[38] Over its eleven-year lifespan,[40] the company produced about 100,000 cars.[40]

Sales began in 1989 mainly as automobiles for government officials and taxis.[41] Its model line comprised the Peugeot 505 and 504.[42]

Markets[edit]

The company will expand into the US market in the first half of 2020.[43]

Sponsorships[edit]

GAC was the sponsor of the 2011 World Table Tennis Championships held in Rotterdam and the title sponsor of the 2012 ITTF World Tour.[44]

GAC was the title sponsor of the 2013 World Team Cup Table Tennis tournament held in its home city of Guangzhou.[44]

See also[edit]

Zotye Auto

References[edit]

  1. ^ a b Milestones Archived 2011-04-26 at the Wayback Machine Guangzhou Automobile Industry Group Official Site
  2. ^ a b "Annual Report 2012" (PDF). Guangzhou Automobile Group Co., Ltd. 2012. Retrieved 2014-02-18.
  3. ^ a b Home > About us > Company Profile Archived 2012-04-15 at the Wayback Machine Guangzhou Automobile Group Co Ltd Official Site
  4. ^ a b "2012年12月分车型前十家生产企业销量排名". China Association of Automobile Manufacturers (CAAM). 2013-01-14. Archived from the original on 2013-01-15. Retrieved 2013-01-15.
  5. ^ "Commercial Vehicles". gaig.com.cn. Guangzhou Automobile Industry Group. Archived from the original on 16 October 2013. Retrieved 7 October 2013.
  6. ^ Company Profile[dead link] Guangzhou Automobile Group Official Site (Text-only Google cache)
  7. ^ Guangzhou Automobile Group Co., Ltd. businessweek.com, Company Snapshot
  8. ^ a b "HK float for Guangzhou Auto". 1HangZhou. 2010-01-23. Retrieved 2013-01-13.
  9. ^ a b c d Joanne Chiu and Norihiko Shirouzu (2010-07-16). "Denway Motors's Shareholders Approve Share Swap". The Wall Street Journal.
  10. ^ a b Lee, Carmen (February 10, 2012). "GAC Group's application to acquire Changfeng gains written approval". Automotive News. gasgoo.com. Archived from the original on December 2, 2013. Retrieved June 23, 2012.
  11. ^ "Denway Motors gets nod for privatisation". Reuters.com. 2010-07-16. Retrieved 2010-10-25.
  12. ^ "GAC Gonow reveals next five-year plan". globaltimes.cn. 2011-03-21. Retrieved 2012-04-14.
  13. ^ "GAC's first own-brand car". People's Daily. 2010-09-06. Retrieved 2012-04-27.
  14. ^ "Guangzhou Auto Show: Guangzhou Auto Trumpchi Listed & Priced". Car News China. 2010-12-20. Retrieved 2012-04-27.
  15. ^ "Sales surge, but congestion concerns rise". people.com.cn. 2010-11-15. Retrieved 2012-04-14.
  16. ^ "GAC listed after 8-year marathon". people.com.cn. 2010-09-06. Retrieved 2012-04-14.
  17. ^ "China Car Market 101: Who Makes All Those 18 Million Cars?". thetruthaboutcars.com. 2011-01-19. Retrieved 2012-04-14.
  18. ^ 2011年前十家乘用车生产企业销量排名 [2011 Top Ten Automobile Manufacturers by Sales]. China Association of Automobile Manufacturers (CAAM). 2012-01-20. Archived from the original on 2012-08-20.
  19. ^ "Guangzhou Auto floats on SSE, completes dual-listing". China Economic Review. 2012-03-30. Archived from the original on 2016-03-04. Retrieved 2012-08-04.
  20. ^ "President Duterte graces GAC Motor launch, assures investors PH is business-friendly". Presidential Communications Group (Philippines). 2018-11-07. Retrieved 2019-03-27.
  21. ^ Subido, Paulo Rafael (2018-11-07). "Chavit Singson is the new distributor of GAC Motor in PH. Here are the prices". Top Gear Philippines. Summit Media. Retrieved 2019-06-26.
  22. ^ Fang Yan; Edmund Klamann (2009-05-19). "UPDATE 1-Guangzhou Auto to buy into Changfeng Motor". reuters.com. Retrieved 2012-04-14.
  23. ^ Fang Yan; Jacqueline Wong (2009-11-10). "UPDATE 2-Changan Auto claims China's No.3 spot with AVIC deal". reuters.com. Retrieved 2012-04-14.
  24. ^ Wong, Kandy (2010-01-30). "Mainland carmakers to merge with rivals and stop overcapacity". South China Morning Post. Hong Kong.
  25. ^ "LieBao Vehicle official website".
  26. ^ "广汽菲亚特" [Guangzhou Automobile Fiat]. Gacfiatauto.com. 2012-04-03. Archived from the original on 2012-04-21. Retrieved 2012-04-13.
  27. ^ Rowley, Ian (2009-07-07). "Fiat Focuses on China". businessweek.com.
  28. ^ Company Profile Archived 2012-03-22 at the Wayback Machine GAC Fiat Official Site
  29. ^ Han, Tianyang (2009-11-30). "GAC-Fiat ceremony heralds joint venture". China Daily. Retrieved 2016-08-12.
  30. ^ "Fiat opens new Chinese plant to produce Viaggio". MSNBC. 2012-06-28. Retrieved 2012-07-10.
  31. ^ "2013 Fiat Viaggio". Car and Driver. April 2012. Retrieved 2012-07-10.
  32. ^ Leung, Alison (2009-11-22). "China's Guangqi Honda at 95 pct of 2009 sales target". reuters.com. Retrieved 2013-01-13.
  33. ^ Kim, Chang-Ran (2010-12-17). "Honda targets China sales of 730,000 units in 2011". reuters.com. Retrieved 2013-01-13.
  34. ^ For start of operations, see "Production and Sales of Pajero Sport Midsize SUV Begins in China". Press Release. Mitsubishi Motors. September 30, 2013. Retrieved 10 October 2013.
  35. ^ "GAC-Toyota rolls off one millionth car in China". China Automotive Review. 2011-09-08. Retrieved 2012-04-12.
  36. ^ "Guangzhou Isuzu Bus Co., Ltd". GAC Group. Retrieved 2012-04-12.[permanent dead link]
  37. ^ a b "Guangzhou Auto's bus company unveiled". China Daily. 2008-09-18. Retrieved 2014-01-08.
  38. ^ a b Changing lanes in China: foreign direct investment, local government, and auto sector development (page 137) Eric Thun. Cambridge University Press, 2006. 326 pages.
  39. ^ China CEO: a case guide for business leaders in China (page 78) Juan Antonio Fernandez, Liu Shengjun. John Wiley and Sons, 2007. 286 pages.
  40. ^ a b China CEO: a case guide for business leaders in China (page 86) Juan Antonio Fernandez, Liu Shengjun. John Wiley and Sons, 2007. 286 pages.
  41. ^ Fernandez and Liu, p. 79
  42. ^ Changing lanes in China: foreign direct investment, local government, and auto sector development (page 138) Eric Thun. Cambridge University Press, 2006. 326 pages.
  43. ^ "Zotye: Compact crossover coming to U.S." Automotive News. 2019-05-02. Retrieved 2019-05-08.
  44. ^ a b "GAC Group deepens table tennis commitment". SportsPro. 2012-05-14. Retrieved 2012-05-17.

External links[edit]