GAC Group

Guangzhou Automobile Group Co., Ltd.

Type	State-owned enterprise
Traded as	SEHK: 2238, SSE: 601238
Industry	Automotive
Founded	1997[1]
Headquarters	Guangzhou, Guangdong, China
Area served	China
Key people	Mr. Zhang Fangyou (Chairman)
Products	Commercial vehicles Passenger cars Buses Automotive components
Services	Vehicle leasing After-sale services Vehicle finance
Revenue	CN¥12,964 million (2012)[2]
Net income	CN¥1,134 million (2012)[2]
Parent	Guangzhou Automobile Industry Group
Divisions	Trumpchi
Subsidiaries	Denway Motors GAC Bus GAC Changfeng Motor GAC Gonow (51%)
Website	http://www.gagc.com.cn/2012english

GAC Group (officially Guangzhou Automobile Group Co., Ltd.^[3]) is a Chinese automobile maker headquartered in Guangzhou, 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, SUVs under the Changfeng Motor brand, and buses under the GAC Bus brand. GAC produced 728,000 vehicles in 2012, the tenth largest output of any Chinese automaker in that year. In the same year it was 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

Guangzhou Automobile Group Co., Ltd. was founded in 1997,^[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 (SEHK: 2238) 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]

Subsidiaries and divisions

Changfeng Motor

In 2009 GAC owned 29% ownership of this SUV-maker^[20][21] a purchase supposedly imposed by the Chinese State as a condition of a then-upcoming joint venture with Fiat.^[22] GAC completed its acquisition of Changfeng in 2011.^[10]

A Changfeng Flying

Gonow

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.

A Gonow GA200

Trumpchi

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

• Trumpchi GA3/GA3S, a four-door compact saloon
• Trumpchi GA5, a four-door mid-size saloon, including the GA5 REV, a range extender electric vehicle
• Trumpchi GA6, a four-door full size saloon
• Trumpchi GS4, a five-door sport utility vehicle
• Trumpchi GS5 Super, a five-door sport utility vehicle

A Trumpchi GA3  A Trumpchi GA5  A Trumpchi GS4  A Trumpchi GS5 Super  A Trumpchi GA6

Current joint ventures

GAC Fiat

Fiat signed on to a joint venture with GAC on 6 July 2009,^[23][24] and GAC FIAT Automobiles Co Ltd was incorporated on 9 March 2010.^[25] The new company has a production base in Changsha, Hunan Province,^[26] that opened on 28 June 2012^[27] to manufacture the Dodge-Dart -based Fiat Viaggio.^[28]

A Fiat Viaggio

Guangqi Honda

Guangqi Honda is a 50:50 joint venture between GAC and Honda,^[29] 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.^[30]

An Everus S1

GAC Mitsubishi

GAC Mitsubishi Motors is a joint venture between GAC and the Japanese automaker Mitsubishi. It became operational in September 2012 following a late 2010 memorandum of understanding.^[31]

GAC Toyota

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.^[32]

A Toyota Camry VII produced by GAC Toyota

Former joint ventures

Guangzhou Isuzu

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.^[33] 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.^[34] At the same time, Guangzhou Yangcheng's truck making arm was merged into Guangzhou Hino.^[34]

Ycaco YC1045CSZ

Guangzhou Peugeot Automobile

One of the first Sino-western joint venture auto-making companies,^[35] Guangzhou Peugeot Automobile Co Ltd was a joint venture set up by PSA Peugeot Citroën and the Guangzhou Municipal government between 1985^[36] and 1997.^[35] Over its eleven-year lifespan,^[37] the company produced about 100,000 cars.^[37]

Sales began in 1989 mainly as automobiles for government officials and taxis.^[38] Its model line comprised the Peugeot 505 and 504.^[39]

A crew cab Peugeot 504 pickup produced by Guangzhou Peugeot

Sponsorships

GAC was the sponsor of the 2011 World Table Tennis Championships held in Rotterdam and the title sponsor of the 2012 ITTF World Tour.^[40]

GAC was the title sponsor of the 2013 World Team Cup Table Tennis tournament held in its home city of Guangzhou.^[40]

References

External links

• GAC official site

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