Shanghai (ZXZC)- GAC Group announced on Thursday it sold 146,921 vehicles in the first month of 2023, representing a 37.98% plunge year-over-year and a 28.58% decrease month-over-month mainly due to the Chinese Lunar New Year holiday.

All of its subsidiaries were confronted with a two-digit year-on-year drop in their respective Jan. sales. GAC Toyota outsold others with a monthly sales volume of 75,700 vehicles, and it also posted the least decrease among subsidiaries.

GAC AION, the new energy vehicle (NEV)-dedicated maker of GAC Group, saw its Jan. sales flop 48.81% over a year earlier to 8,206 units.

The group noted its new energy vehicle (NEV) sales came in at 10,921 units last month, plummeting 42.88% from the year-ago period.

Accord; photo credit: GAC Honda

There were a total of four vehicle models whose respective Jan. sales all exceeded 10,000 units, namely, the Accord series (12,804 units), the Levin series (12,632 units), the Wildlander (11,170 units), and the Camry (14,566 units).

GAC Group aims to challenge a year-on-year growth of 10% in its automobile sales and an increase of 15% in industrial output value for the year of 2023.