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Recently, Guangzhou Automobile Group announced the 2011 semi-annual report. The communique showed that in the first half of the year, GAC sold a total of 315,300 vehicles, which represented a decrease of approximately 9.58% year-on-year, of which 305,100 were passenger vehicles sold, a year-on-year decrease of approximately 11.97%, and commercial vehicles sold a total of 10,200 vehicles, an increase of 390.97% year-on-year.
In the first half of this year, due to the impact of the earthquake in Japan, the parts supply chain of the Japanese joint-venture auto companies was greatly affected, and the normal production of the major investment companies of GAC was also greatly disturbed. GAC Group's sales and earnings declined, but commercial vehicle sales rose nearly 4 times and became a new bright spot. In the first half of the year, GAC achieved sales revenue of 27.643 billion yuan, a year-on-year decrease of 4.3%. During the period, GAC achieved a net profit of 1.666 billion yuan, a decrease of 48.8% from the same period of last year of 3.254 billion yuan.
For the performance of the Chinese auto market in the second half of this year, GAC Group insiders analyzed that although the world economy has not yet fully recovered, but the overall trend of the Chinese economy will not change, so the domestic auto industry will end the downward trend in the second half, return to a stable The level of rapid growth is expected to achieve a growth rate of around 10% throughout the year.
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The main business of GAC Group is the design and manufacture of automotive vehicles and parts, automotive sales and logistics, auto finance, insurance and related services for domestic and foreign markets. It has an independent and complete production, supply, sales and R&D system. At present, the company owns Guangzhou Honda, Guangzhou Toyota, Honda (China), Guangzhou Automobile Group R&D and production base, Denway Passenger Cars, Yangcheng Automobile, Guangzhou Automobile Hino, Guangzhou Automobile Parts, GAC Toyota Engine, GAC Trade, Guangai Company, Tongfang Global, China There are dozens of well-known companies such as Long Investment, GAC Auto-Gasing Institute, GAC Fiat, GAC Changfeng, GAC Gio and others. They produce a wide range of models including passenger cars, commercial vehicles, automotive engines and major auto parts. product.