Manufacturing News

GAC net income surges 33% in 2015

Guangzhou Automobile Group Co.'s net income jumped nearly 33 percent year on year to 4.2 billion yuan ($646 million) in 2015 as joint ventures with Honda and Toyota delivered strong sales.

Sales at GAC Honda advanced nearly 21 percent to 580,068 vehicles, while GAC Toyota's deliveries rose 7.8 percent to 403,088.

GAC also benefited from a strong performance at the Trump chi brand, where 2015 deliveries soared nearly 62 percent to 195,100 vehicles.

Robust sales at the GAC brand and the partnerships with Honda and Toyota more than offset volume declines at joint ventures with Fiat Chrysler and Mitsubishi.

Last year, GAC FCA's sales slumped 42 percent to 39,488 vehicles, while GAC Mitsubishi's deliveries dropped 8.9 percent to 56,317.

GAC, headquartered in the south China city of Guangzhou, is listed in Hong Kong and Shanghai.

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