Shanghai (ZXZC)- On December 29, 2017,  Guangzhou Automobile Group Co., Ltd. (GAC) announced that its production and sale in 2017 would set a record high. According to the automaker, its annual production and sale would increase by 20 percent respectively to 2 million units. The production and sale of the self-owned brands under the group would soar 30 percent to an estimated volume of 500,000 units. It took just four years for its sales to rise from 1 million to 2 million.

GAC said that the production and sale of GAC Trumpchi were expected to exceed 500,000 units in 2017, up 30 percent year on year. As to the joint ventures, GAC Honda made a breakthrough again in 2017. Last year, GAC Honda delivered 730,633 vehicles, jumping 10.8 percent from a year earlier and much more than its annual target of 690,000 units.

Another joint venture with Japanese automakers, GAC Toyota, sold 440,390 vehicles in 2017, up 0.7 percent. GAC Toyota raised its 2018 annual sales target by 13.6 percent to 500,000 units. GAC Mitsubishi also overfulfilled its annual sales target. Last year, GAC Mitsubishi sold 121,133 vehicles, surging 93 percent compared with the previous year. Thanks to more and more products of the Jeep brand, GAC FCA’s production and sale were over 200,000 units, jumping 36 percent.

In the past year, GAC has formed strategic relationship with many companies, such as Huawei, Tencent, NIO, and China Mobile, to speed its development and application in new energy vehicle and connected vehicle areas.

In 2018, GAC targets 10 percent year-on-year growth in its production and sale and its self-owned brands have an annual target of 20 percent growth. What’s more, the automaker plans to make more progress in new energy area and improve its overseas strategy.

GAC also set its development mission and tasks. By 2027, the 30th anniversary of its establishment, the group aims to be one of top 100 companies in the world. By its 40th anniversary, namely the year 2037, the group is ambitious to become a world-class enterprise with global competitiveness.