Guangzhou Automobile Group or GAC Group (HKG:2238, SHA:601238) recorded a nearly 18% and 8.4% drop in production and sales in August to 128,238 units and 135,695 vehicles, respectively, a Friday Hong Kong bourse filing said.
Output and sales for the automaker in August 2024 had stood at a respective 156,257 units and 148,190 units.
From January to August, production output fell 9.7% year over year to nearly 1.1 million vehicles, while sales slipped 12% to over 1 million units.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.