Guangzhou Auto Reports Sharp Decline in Sales

Guangzhou Automobile Group Co (HK:2238) has released an update.

Guangzhou Automobile Group Co., Ltd. has reported a significant decline in both production and sales for June 2024, with vehicle production and sales volumes dropping by 26.41% and 30.77% year-on-year, respectively. The first half of the year also saw a downturn, with a 28.19% decrease in production and a 25.79% drop in sales compared to the previous year. Particularly hard-hit segments include new energy and energy-efficient vehicles, which have experienced notable declines in both production and sales.

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