|Headquarters||Guangzhou, Guangdong, China|
|Key people||Mr. Zhang Fangyou (Chairman)|
|Revenue||CN¥12,964 million (2012)|
|Net income||CN¥1,134 million (2012)|
|Parent||Guangzhou Automobile Industry Group|
GAC Changfeng Motor
GAC Gonow (51%)
|Literal meaning||Guangzhou Automobile Group Co., Ltd.|
GAC Group (officially Guangzhou Automobile Group Co., Ltd.) (SEHK: 2238, SSE: 601238) 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. While the company is primary focused on consumer vehicles, it does make large passenger buses and commercial trucks although it is outside the top ten commercial vehicle makers in China.
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.
Guangzhou Automobile Group Co., Ltd. was founded in 1997, and in 2005 become a holding of Guangzhou Automobile Industry Group and a joint-stock company. As of 2009 it was the 6th-largest automaker in China.
In 2009, the company acquired 29% of the Chinese sport-utility vehicle maker Changfeng Automobile, becoming its biggest shareholder. GAC purchased the remaining portion of Changfeng in 2011 completing its acquisition of the company.
Previously a backdoor listing via Denway Motors, GAC became listed under its own name on the Stock Exchange of Hong Kong in 2010. In that year shareholders of Denway Motors approved its privatization by GAC. Denway Motors was subsequently delisted on 25 August 2010 and replaced by Guangzhou Automobile Group (SEHK: 2238) on 30 August 2010 via stock swap.
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.
In early 2012, the company was listed on the Shanghai Stock exchange.
Subsidiaries and divisions
In 2009 GAC owned 29% ownership of this SUV-maker a purchase supposedly imposed by the Chinese State as a condition of a then-upcoming joint venture with Fiat. GAC completed its acquisition of Changfeng in 2011.
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 is an automotive marque owned by GAC Group which was launched in December 2010. The following Trumpchi vehicles are currently available in China:
- Trumpchi GA5, a four-door mid-size saloon car available in 1.8 litre and 2.0 litre petrol versions; and
- Trumpchi GS5, a five-door sport utility vehicle
Current joint ventures
Fiat signed on to a joint venture with GAC on 6 July 2009, and GAC FIAT Automobiles Co Ltd was incorporated on 9 March 2010. The new company has a production base in Changsha, Hunan Province, that opened on 28 June 2012 to manufacture the Dodge-Dart -based Fiat Viaggio.
Guangqi Honda is a 50:50 joint venture between GAC and Honda, 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.
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.
Former joint ventures
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. 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. At the same time, Guangzhou Yangcheng's truck making arm was merged into Guangzhou Hino.
Guangzhou Peugeot Automobile
One of the first Sino-western joint venture auto-making companies, Guangzhou Peugeot Automobile Co Ltd was a joint venture set up by PSA Peugeot Citroën and the Guangzhou Municipal government between 1985 and 1997. Over its eleven-year lifespan, the company produced about 100,000 cars.
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