：《GAC Group's Future Hinges on Just "One Field"》
In recent years, joint venture automakers have faced dual challenges: intense market competition and the rise of electric and smart vehicles. GAC Group, in particular, finds itself under attack from both sides. Its two main profit sources—GAC Honda and GAC Toyota—are nearly dried up, while the transformation of Trumpchi and the upward push of the AION brand will require more time.
According to GAC Group's published data, total sales for 2024 reached 2 million units, a year-on-year decline of 20%. Within this, the joint venture segment dropped 24%, and the self-owned segment fell 10%. From January to May 2025, cumulative sales were 605,225 units, down 13% year-on-year. Only GAC Toyota achieved year-on-year growth, while joint venture sales remained double that of the self-owned segment.
GAC Group is heavily betting on its self-owned brands and new energy vehicles—just as the entire industry is. Yet, this strategy alone has not helped GAC Group quickly escape the widespread challenges facing Chinese automakers. Beyond electric vehicles, flying cars, and light commercial new energy vehicles, GAC Group still has much more to do.
