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 volumes for October 2024, with vehicle production down 29.47% and sales down 17.23% year-on-year. The accumulated figures for 2024 also reflected a downward trend, with production decreasing by 26.47% and sales by 24.66% compared to the previous year. This performance highlights challenges faced by the company amid shifting market dynamics, particularly in the new energy and energy-efficient vehicle segments.
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