GAC Group

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Guangzhou Automobile Group Co., Ltd.
广州汽车集团股份有限公司
Type State-owned enterprise
Industry Automobile
Founded 1997[1]
Headquarters Guangzhou, Guangdong, China
Area served China
Key people Mr. Zhang Fangyou (Chairman)
Parent Guangzhou Automobile Industry Group
Divisions Trumpchi
Subsidiaries Denway Motors
GAC Changfeng Motor
Zhejiang Gonow Auto
Website http://www.gagc.com.cn/2012english

GAC Group (officially Guangzhou Automobile Group Co Ltd[2]) (Chinese: 广州汽车集团股份有限公司), (SEHK: 2238, SSE: 601238) is a Chinese automobile maker and a subsidiary of Guangzhou Automobile Industry Group, a holding company.

GAC is currently known for its Honda-branded auto producing joint venture with this Japanese automaker.

Declining to produce any commercial offerings, the 728,000 passenger cars it manufactured in 2012 placed GAC as the sixth largest Chinese automaker that year.[3] The number of cars counted as passenger vehicles conflates consumer offerings and light commercial trucks and vans although GAC may not currently produce any of the latter.

Contents

History [edit]

Guangzhou Automobile Group Co Ltd was founded in 1997,[1] and by 2005[4] it had become a holding of Guangzhou Automobile Industry Group[5] and a joint-stock company.[2] As of 2009 it is the 6th largest automaker in China.[6]

In 2009, the company acquired 29% of Changfeng Automobile and became this sport-utility vehicle maker's biggest shareholder.[7]

Through a share swap with Denway Motors, a company listed on the Hong Kong Stock Exchange that the company held 37.9%, GAC became listed in Hong Kong in 2010.[7]

In 2010 shareholders of Denway Motors approved the privatization by GAC.[8] Denway Motors was delisted on 25 August 2010 and replaced by Guangzhou Automobile Group (SEHK: 2238) on 30 August 2010 via stock swap.[7]

In late 2010 GAC purchased 51% ownership of Gonow, a midsize Chinese automaker of sport-utility vehicles, subcompacts, and pickup trucks.[7][9]

In December 2010 GAC launched the new Trumpchi marque, with its first products based on the platform of the Alfa Romeo 166.[10][11]

In 2010 the company was among the top ten largest Chinese carmakers[12] reaching number six[13] and selling 724,200 vehicles.[14]

2011 saw the company retain its rank as the sixth largest Chinese automaker by production volume, and GAC made 740,400 vehicles that year.[15]

In early 2012, the company was listed on the Shanghai Stock exchange.[16]

Subsidiaries [edit]

Changfeng [edit]

Main article: Changfeng Automobile

As of 2009 GAC has 29% ownership of this SUV-maker[17][18][19] its share purchase supposedly imposed by the Chinese State as a condition of a then-upcoming joint venture with Fiat.[20]

Joint ventures [edit]

Mitsubishi joint venture [edit]

In early November 2010 Mitsubishi and GAC signed a memorandum of understanding to set up a new equally owned joint venture by restructuring Changfeng,[21] a Chinese auto-making company owned by both Mitsubishi and GAC, et al.

Guangqi Honda Automobile [edit]

Main article: Guangqi Honda

An equally owned joint venture between GAC and Honda,[22] it makes a number of Honda-branded vehicles for the Chinese market. In 2011 it started sales of its own brand, Everus.[23]

Guangzhou Isuzu Bus [edit]

Guangzhou Isuzu Bus Co Ltd is 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.[24]

Guangzhou Peugeot Automobile (defunct) [edit]

Main article: Guangzhou Peugeot Automobile Company

One of the first Sino-western joint venture auto-making companies,[25] Guangzhou Peugeot Automobile Co Ltd was a joint venture set up by PSA Peugeot Citroën and the Guangzhou Municipal government between 1985[26] and 1997.[25] Over its eleven-year lifespan,[27] the company produced about 100,000 cars.[27]

Sales began in 1989 mainly as automobiles for government officials and taxis.[28] Its model line comprised the Peugeot 505 and 504.[29]

GAC Fiat [edit]

Main article: GAC Fiat

Fiat signed on to a joint venture with GAC on 6 July 2009,[30][31] and GAC FIAT Automobiles Co Ltd was incorporated on 9 March 2010.[32] The new company has a production base in Changsha, Hunan Province,[33] that opened on 28 June 2012[34] to manufacture the Dodge-Dart -based Fiat Viaggio.[35]

GAC Toyota [edit]

Main article: GAC Toyota

GAC Toyota Motor Co Ltd, a joint venture between GAC and Toyota Motor Company, was founded in 2004 and is headquartered in Guangzhou.[36]

Sponsorships [edit]

GAC was the sponsor of the 2011 World Table Tennis Championships held in Rotterdam and is the title sponsor of the 2012 ITTF World Tour.[37]

GAC is the title sponsor of the 2013 World Team Cup Table Tennis tournament, to be held in its home city of Guangzhou.[37]

References [edit]

  1. ^ a b Milestones Guangzhou Automobile Industry Group Official Site
  2. ^ a b Home > About us > Company Profile Guangzhou Automobile Group Co Ltd Official Site
  3. ^ "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. Retrieved 2013-01-15. 
  4. ^ Company Profile Guangzhou Automobile Group Official Site (Text-only Google cache)
  5. ^ Guangzhou Automobile Group Co., Ltd. businessweek.com, Company Snapshot
  6. ^ "HK float for Guangzhou Auto". 1HangZhou. 2010-01-23. Retrieved 2013-01-13. 
  7. ^ a b c d Joanne Chiu and Norihiko Shirouzu (2010-07-16). "Denway Motors's Shareholders Approve Share Swap". The Wall Street Journal. 
  8. ^ "Denway Motors gets nod for privatisation". Reuters.com. 2010-07-16. Retrieved 2010-10-25. 
  9. ^ "GAC Gonow reveals next five-year plan". globaltimes.cn. 2011-03-21. Retrieved 2012-04-14. 
  10. ^ "GAC's first own-brand car". People's Daily. 2010-09-06. Retrieved 2012-04-27. 
  11. ^ "Guangzhou Auto Show: Guangzhou Auto Trumpchi Listed & Priced". Car News China. 2010-12-20. Retrieved 2012-04-27. 
  12. ^ "Sales surge, but congestion concerns rise". people.com.cn. 2010-11-15. Retrieved 2012-04-14. 
  13. ^ "GAC listed after 8-year marathon". people.com.cn. 2010-09-06. Retrieved 2012-04-14. 
  14. ^ "China Car Market 101: Who Makes All Those 18 Million Cars?". thetruthaboutcars.com. 2011-01-19. Retrieved 2012-04-14. 
  15. ^ "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. 
  16. ^ "Guangzhou Auto floats on SSE, completes dual-listing". China Economic Review. 2012-03-30. 
  17. ^ Fang Yan; Edmund Klamann (2009-05-19). "UPDATE 1-Guangzhou Auto to buy into Changfeng Motor". reuters.com. Retrieved 2012-04-14. 
  18. ^ 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. 
  19. ^ "Guangzhou Auto buys 29% of Changfeng Auto". China Car Times. 2009-05-20. Retrieved 2010-11-17. 
  20. ^ Wong, Kandy (2010-01-30). "Mainland carmakers to merge with rivals and stop overcapacity". South China Morning Post (Hong Kong). 
  21. ^ "Mitsubishi, GAC Sign Joint Venture MOU, to Build ASX Compact SUV". ChinaAutoWeb.com. 
  22. ^ Leung, Alison (2009-11-22). "China's Guangqi Honda at 95 pct of 2009 sales target". reuters.com. Retrieved 2013-01-13. 
  23. ^ Kim, Chang-Ran (2010-12-17). "Honda targets China sales of 730,000 units in 2011". reuters.com. Retrieved 2013-01-13. 
  24. ^ "Guangzhou Isuzu Bus Co., Ltd.". GAC Group. Retrieved 2012-04-12.  Unknown parameter |177&id= ignored (help)
  25. ^ 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.
  26. ^ China CEO: a case guide for business leaders in China (page 78) Juan Antonio Fernandez, Liu Shengjun. John Wiley and Sons, 2007. 286 pages.
  27. ^ 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.
  28. ^ Fernandez and Liu, p. 79
  29. ^ Changing lanes in China: foreign direct investment, local government, and auto sector development (page 138) Eric Thun. Cambridge University Press, 2006. 326 pages.
  30. ^ "广汽菲亚特" [Guangzhou Automobile Fiat]. Gacfiatauto.com. 2012-04-03. Retrieved 2012-04-13. 
  31. ^ Rowley, Ian (2009-07-07). "Fiat Focuses on China". businessweek.com. 
  32. ^ Company Profile GAC Fiat Official Site
  33. ^ GAC-Fiat ceremony heralds joint venture Han Tianyang (China Daily) 2009-11-30 08:03
  34. ^ "Fiat opens new Chinese plant to produce Viaggio". MSNBC. 2012-06-28. Retrieved 2012-07-10. 
  35. ^ "2013 Fiat Viaggio". Car and Driver. 2012-04. Retrieved 2012-07-10. 
  36. ^ "GAC-Toyota rolls off one millionth car in China". China Automotive Review. 2011-09-08. Retrieved 2012-04-12. 
  37. ^ a b "GAC Group deepens table tennis commitment". SportsPro. 2012-05-14. Retrieved 2012-05-17. 

External links [edit]
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