Guangzhou Automobile Group Co (HK:2238) has released an update.
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Guangzhou Automobile Group Co., Ltd. reported a significant decline in both production and sales of vehicles for July 2024, with a 9.14% and 25.37% year-on-year decrease, respectively. The company’s cumulative production and sales for 2024 also fell by 25.79% and 25.83% compared to the previous year. The downturn affected both traditional and new energy vehicles, with new energy experiencing a 30.88% drop in sales.
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