Guangzhou Automobile to boost production capacity to 3 million units in 2015
Focuses on product development, new energy vehicles, and investing in joint ventures
At the end of 2010, the GAC Group announced it would boost the production capacity of the entire group to 3 million units and revenues to 400 billion RMB, and would grow as a global corporation that has international competitiveness in its five-year plan to 2015.
In order to achieve the target in the five-year plan, the car maker focuses on four areas - the enhancement of independent development, promotion of new energy vehicles, fostering of human resources, and building of a brand power. Concerning the independent development, GAC Motor launched a proprietary brand passenger car, the Trumpchi, at the end of 2010, and Guangqi Honda released the S1 in 2011, which is the first model under the Everus brand - China's first proprietary brand of a foreign-affiliated joint venture manufacturer.
The GAC Group has begun to prepare for the new energy vehicle business, planning to increase the group's entire production and sales volume of energy-saving and new energy vehicles to about 200,000 units by 2015. Its joint venture partner, Honda has already started demonstration tests of electric vehicles (EVs), expecting to put a product on the market through Guangqi Honda in 2012.
The GAC Group has also been focusing on the promotion of new joint ventures since 2009. It is currently doing joint ventures with Fiat, the Gonow Holding Group, and Mitsubishi until the end of 2011. Among them, new joint venture companies have already been established with Fiat and the Gonow Holding Group. Also with Mitsubishi, a new joint venture company is expected to be established in September 2012.
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Production by vehicle manufacturers
In order to achieve the target of the GAC Group's production capacity of 3 million units, each vehicle manufacturer plans to boost production capacity. In 2011, GAC Gonow's three plants were newly reorganized into under the umbrella of the GAC Group, while Guangqi Honda completed expansion work that it had began in 2010 and brought the production capacity to 480,000 units. GAC Fiat and GAC Mitsubishi plan to add extra production capacity in 2012.
GAC Group: Production capacity by auto manufacturers
|Guangzhou Automobile Group Motor Co. Ltd. (GAC Motor)||Guangzhou Panyu Plant||10 (The 1st phase)||20(The 2nd phase) →40(2015)||Trumpchi|
|GAC Changfeng Motor Co., Ltd. (GAC Changfeng)||Hunan Yongzhou Plant||5||5 (Reorganized into GAC Motor)||Liebao Brand, Pajero|
|Hunan Changsha Plant||5||25-30 (Reorganized into GAC Mitsubishi)|
|GAC Gonow Automobile Co., Ltd. (GAC Gonow)||Zhejiang Luqiao Plant||*30||*50(2015)||GS50, Shuaijian, Aoxuan G3, Aoxuan G5, Minivan, Pickup|
|Zhejiang Xiaoshan Plant|
|Shandong Dongying Plant|
|GAC Toyota Motor Co. Ltd.(GAC Toyota)||Guangzhou Nansha Plant's first production line||20||60(2015)||Camry. Camry Hybrid, Yaris|
|Guangzhou Nansha Plant's second production line||16||Highlander, E'z|
|Guangqi Honda Automobile Co., Ltd. (Guangqi Honda)||Guangzhou Huangpu Plant||24||24||Accord, City, Fit, Everus S1|
|Guangzhou Zengcheng Plant||24 (Completed the expansion of production capacity in October, 2011.)||48||Accord, Crosstour, Odyssey|
|Honda Automobile (China) Co., Ltd. (Honda (China))||Guangzhou Export Car Plant||5||5||Jazz|
|GAC FIAT Automobiles Co., Ltd. (GAC Fiat)||Hubei Changsha Plant||Construction started in November 2009||14 (Will start operations in July 2012)→ 30-33(2014)→50(2015)||C-Medium and other models|
|GAC Hino Motors Co., Ltd. (GAC Hino)||Guangzhou Conghua Plant||*1.7||*5 (Heavy-duty trucks: 2, Light-duty trucks: 3)||Heavy-duty trucks, Light-duty trucks|
|Liaoning Shenyang Plant||*0.4||Medium-sized bus|
|Guangzhou Automobile Group Autobus Co., Ltd. (GAC Bus)||Guangzhou Existing Plant||*0.3||*0.3||Light, medium and large buses|
|GAC Group's Total||141||300 (2015 Plan)|
|Source: Press release of each company, Chinese media|
|(Note) 1.||Production capacity marked with "*" is production capacity for commercial vehicles or production capacity including commercial vehicles.|
|2.||In this report, abbreviated company names in the parenthesis are used.|
|3.||GAC Group's total of 3 million units in the "Planning" is not the combined total of each company in the table, but is a target under the five-year plan that the GAC Group announced at the end of 2010.|
|4.||GAC Motor: is a proprietary brand passenger car manufacturer that is wholly-owned by the GAC Group. The Panyu Plant started operations in September 2010.|
|5.||GAC Changfeng: is an SUV manufacturer in Hunan Province. Currently, it is being acquired by the GAC Group.|
|6.||GAC Gonow: is a joint venture manufacturer established in December 2010 between the GAC Group and Zhejiang Gonow Holding Group Co., Ltd. It is owned 51% by the GAC Group and 49% by Gonow Investment.|
|7.||GAC Toyota: is a joint venture manufacturer that is equally-owned by Toyota.|
|8.||Guangqi Honda: is a joint venture manufacturer that is equally-owned by Honda.|
|9.||Honda (China): is a production and sales company for the Jazz, which is exported to Europe. It is owned 25% by the GAC Group, 10% by Dongfeng Motor Group Co., Ltd., and 65% by Honda.|
|10.||GAC Fiat: is an equally-owned joint venture manufacturer that was established jointly with Fiat in March 2010.|
|11.||GAC Hino: is a joint venture commercial vehicle manufacturer that is equally-owned with Hino. The official name of the Shenyang Plant is GAC Hino (Shenyang) Motors Co., Ltd.|
|12.||GAC Bus: is a bus manufacturer that the GAC Group holds a 100% share directly and indirectly.|
Activities for localization of foreign-affiliated joint ventures in China
Foreign-affiliated joint venture manufacturers are stepping up activities for localization. Toyota introduced the AR engine in a joint venture engine manufacturer with the GAC Group while Guangqi Honda, which is a joint venture with Honda, started marketing of the first model under its proprietary brand announced in 2008 - the Everus.
Toyota locally produces the AR engine
|GAC Toyota Engine Co., Ltd. is a joint venture engine manufacturer between Toyota and the GAC Group. In October 2011, the company started local production of Toyota's AR engine (new in-line 4-cylinder engine). It produces three types - 2.5-liter, 2.7-liter, and 2.5-liter engines for hybrid vehicles; among them, the 2.5-liter engine is used in the 7th-generation Camry, which was launched in December of the same year. The AR engine is an advanced engine that integrates Toyota's cutting-edge technology. In spite of large displacement, it boasts fuel efficiency, high maximum output, purification of exhaust gas, and quietness. Behind the introduction of the AR engine, the demand for models that are fuel efficient and meet tighter emission regulations is expected to be strong.|
Source: GAC Group's news release (November 9, 2011), Toyota (China)'s news release (November 9, 2011), Toyota's news release (November 9, 2011) (Note) GAC Toyota Engine Co., Ltd. has production capacity for 500,000 units per year. Before the introduction of the AR engine, it produced only the AZ engine (in-line 4-cylinder engine).
Guangqi Honda launches its proprietary brand sedan, the Everus S1
|In April 2011, Guangqi Honda started marketing of the first production model, the S1, under Everus brand, which is the first proprietary brand of foreign-affiliated joint venture manufacturers. The model is a compact sedan for China, which is based on Honda's platform for small cars. It was developed by Guangzhou Honda Research & Development Co., Ltd., which is an R&D subsidiary that was established in 2007 for the development of a proprietary brand. The S1 comes with Honda's powertrain and ensures high quality by sharing Guangqi Honda's existing purchasing network, production line, and sales network.|
|With the launch of the Everus S1, Guangqi Honda establishes a two-brand (Honda and Everus) structure, and builds a management structure not as a production facility for foreign OEMs' products, but as an independent auto manufacturer that integrates R&D, manufacturing, and sales. Guangqi Honda will introduce Honda's advanced technology and new models in the future and will also enhance the management structure of the Everus brand including R&D, procurement of parts, marketing, and fostering of human resources, thus intending to bring it up to be a first-class brand that has international competitiveness in the future.|
Source: Guangqi Honda's news release (December 19, 2010, April 17/April 19/May 19/November 21, 2011), Honda's news release (April 18, 2011), Chinese media
Strategy for new energy vehicles
In April 2011, the GAC Group announced its five-year strategy for energy-saving and new energy vehicles at the 14th Shanghai Motor Show. The Group will establish core technology for energy-saving and new energy vehicles under its proprietary brand by 2015, planning total commercialization.
Honda is a joint venture partner of the GAC Group and formed a partnership with the Guangzhou Municipal Government in November 2011, starting demonstration tests of EVs. Guangqi Honda plans to begin small-lot production of the EVs for testing in 2012.
Strategy for energy-saving and new energy vehicles announced by the GAC Group
|[Summary of the strategy] * To increase production and sales volume of energy-saving and new energy vehicles to about 200,000 units by 2015. * To develop five core technologies including vehicle control, motor system, battery management technology, battery system, and fuel cell. * To prepare manufacturing capability for motors, motor controllers, and batteries. * To construct National Engineering Laboratory for EVs.|
Source: GAC Group's news release (April 19/November 21, 2011) (Note) The National Engineering Laboratory is an R&D center for industrial technology, which is opened by a corporation, an R&D institute, or a university on consignment by the Chinese government. It is supervised by the National Development and Reform Commission.
Honda introduces three new energy vehicles in 2012
|In November 2011, Honda started demonstration tests of EVs in Guangzhou City, China, which is the third country following the USA and Japan. The test vehicle, the Fit EV, is based on the Fit and adopts multiple latest technologies including Li-ion battery and gearbox coaxial motor of Honda's fuel cell vehicle - the FCX Clarity. It takes less than six hours to charge the battery on 220V power supply (household outlet in China). The maximum speed is 144km/h. The cruising range is more than 150km. The demonstration test is conducted jointly with the Guangzhou Municipal Government and the GAC Group. Local production will begin at Guangqi Honda in 2012.|
|In 2012, Honda further plans to import and sell through Guangqi Honda the CR-Z and the Fit Hybrid, which are equipped with Honda's hybrid system, IMA (Integrated Motor Assist). The CR-Z comes with a 1.5-liter i-VTEC engine, boasting fuel economy of 25km/L (10-15 mode). The Fit Hybrid comes with a 1.3-liter i-VTEC engine and a drive assist system, Eco Assist, boasting fuel economy of 30km/L (10-15 mode).|
Source: GAC Group's news release (April 19, 2011), Guangqi Honda's news release (April 19/November 8/November 21, 2011), Honda's news release (April 19/November 8, 2011)
Progress of new joint ventures
In order to enhance its lineup of products, the GAC Group is currently accelerating the launch of new joint ventures. In 2010, GAC Fiat was established, and construction of a new plant began in Changsha City, Hunan Province. Also, GAC Gonow was established jointly with Gonow Holding Group, which is a private manufacturer in Zhejiang Province. In 2011, the GAC Group concluded a memorandum of understanding on a joint venture with Mitsubishi, currently preparing establishment of a new company at the end of September 2012.
Joint venture with Gonow Holding Group
In December 2010, the GAC Group established GAC Gonow jointly with Gonow Holding Group, a private manufacturer in Zhejiang Province. The Gonow Holding Group has three production facilities in Zhejiang and Shandong Provinces and produced pickups, SUVs, and mini vehicles. The new joint venture company, GAC Gonow, uses these existing facilities and focuses on the cultivation of the market for pickups and mini vehicles.
Summary of joint venture with Gonow Holding Group
|Name of Corporation||GAC GONOW Co., Ltd.|
|Investment ratio||GAC Group: 51%, Zhejiang Gonow Holding Group Co., Ltd.: 49%|
|Date of Establishment||December, 2010|
|Purpose||GAC Group: cultivation of the market for mini vehicles and pickups, building of production facilities in the East China area/Yangtze delta|
|Plants||Zhejiang Luqiao Plant, Zhejiang Xiaoshan Plant, Shandong Dongying Plant|
|Production capacity||300,000 units/year (2012) 500,000 units/year (2015)|
|Production models||Pickup, SUV, mini Vehicles|
Source: Chinese media
Joint venture with Fiat-Chrysler
Based on the joint venture contract concluded in July 2009, the GAC Group established a fifty-fifty joint venture company with Fiat in March 2010. The new company is currently building a production facility in Changsha City, Hunan Province; it will begin production of a first model, the C-Medium, by July 2012. The GAC Fiat has been focusing on the introduction of import cars including the Bravo and Fiat 500 before 2012, but plans to introduce at least one locally-produced model annually in 2012 and later.
The GAC Group plans to enhance the lineup of small cars and mid-range models through the alliance with Fiat. According to a media report when the alliance was established, the GAC Group intended to receive technical support from Fiat and to improve the market competitiveness of its proprietary brand. Their technical alliance began in 2008 and, at the end of 2010, the GAC Group introduced the Trumpchi, a mid-range/high-end car under its proprietary brand based on the Alfa Romeo 166, which it acquired in 2008. On the other hand, Fiat, through its alliance with the GAC Group, intends to re-enter the Chinese market. Fiat had established a joint venture (Nanjing Fiat) with the Nanjing Automobile Group in 1999. The Italian company dissolved Nanjing Fiat, when the joint venture partner, the Nanjing Automobile Group, was reorganized as a wholly-owned subsidiary of SAIC Motor Corporation at the end of 2007, and then withdrew from China.
A supplier park will also be built at GAC Fiat's Changsha Plant. In November 2011, nine companies already began the construction of their plants; after the operations start, 65% of the parts can be locally procured.
Summary of joint venture with Fiat
|Name of Corporation||GAC FIAT Automobiles Co., Ltd.|
|Investment ratio||GAC Group: 50%, Fiat Group Automobiles S.p.A.: 50%|
|Date of Establishment||March, 2010|
|Purpose||GAC Group: To enhance the lineup of small cars and midsize cars. To acquire technical support for proprietary brand vehicles. Fiat: To re-enter the Chinese market (Fiat dissolved the alliance with the former partner, Nanjing Automobile Group, at the end of 2007)|
|Plants||Changsha Plant (Changsha Economic &Technical Development Zone, Hunan prov.)|
|Production capacity||Vehicles: 140,000 units/year (2012-) Vehicles: 300,000- 330,000 units/year (2014-) Vehicles: 500,000 units/year (2015-) * Engines: 220,000 units/year (The 1st phase) → 300,000 units/year (The 2nd phase)|
|Production models||To introduce models under multiple brands including Fiat/Alfa Romeo. The first model is the C-Medium, a new model that is developed for China based on Fiat's Compact platform. Chrysler's Jeep brand may be introduced in the Changsha Plant.|
Source: Chinese media (Note) The product lineup is reported to cover main segments including small cars, midsize cars, mid-range/high-end models, and SUVs.
The GAC Group is also expected to participate in local production of Chrysler's main brand, the Jeep. Currently, the Group is negotiating with Fiat-Chrysler on an alliance. It was reported that a joint venture company to be established will produce the Jeep brand vehicles.
With the introduction of the Jeep, the GAC Group aims to increase the share of the SUV market. The Group also plans to make SUVs into its main models in the joint venture with Mitsubishi and with the introduction of the Jeep brand, it is said that its SUV lineup will be further enhanced.
Joint venture with Mitsubishi
In November 2010, the GAC Group concluded a memorandum of understanding on a new joint venture with Mitsubishi. The Group plans to acquire through share exchange GAC Changfeng, which is an SUV manufacturer in Hunan Province of which it holds a 29% share as the largest shareholder. Based on the assets of GAC Changfeng, the Group will establish a fifty-fifty joint venture manufacturer with Mitsubishi. At the end of January 2012, the plan was approved by the China Securities Regulatory Commission. According to the local media, the new joint venture company is expected to be established at the end of September 2012.
In order to cultivate the SUV market, which has been rapidly growing for the last few years, the GAC Group reorganizes the existing production facilities for SUVs, which GAC Changfeng has, planning to produce Mitsubishi's SUV models locally in China. On the other hand, Mitsubishi, through the joint venture with the GAC Group, aims to boost its market share in China. Mitsubishi currently holds a 14.59% and 25% stake in GAC Changfeng and Soueast Motor(a joint venture with Fujian Motor Industry Group and China Motor Corporation), respectively. Yet, as Mitsubishi has less than 50% stake, it would be difficult for the car maker to play a leading role in the joint ventures.
Summary of joint venture with Mitsubishi
|Name of Corporation||GAC Mitsubishi (tentative name)|
|Investment ratio||GAC Group: 50%, Mitsubishi Motors: 50%|
|Date of Establishment||September, 2012|
|Purpose||GAC Group: To cultivate the SUV market Mitsubishi Motors: To play a leading role in the business in China including introduction of new models and management of plants, and formulation of sales strategy|
|Plants||GAC Changfeng's Changsha Plant (Changsha National Economic&Technological Development Zone, Hunan prov.)|
|Production capacity||To prepare production capacity of 250,000-300,000 units through expansion work|
|Production models||Most of the production models are expected to be Mitsubishi's SUVs including the Pajero (forecast by the media).|
Source: Chinese media (Note) Mitsubishi Motor Sales (China) Co., Ltd., which imports and sells Mitsubishi vehicles, announced on its website in February 2012 that it did not plan to locally produce the Pajero and the Outlander EX, which are imported and sold. Concerning other import cars that it markets including the RVR and the Pajero Sport, the company says that it has no definite plan to locally produce them at the moment.
After share exchange is completed, GAC Changfeng will be delisted from the Shanghai A Stock Exchange. Of the two plants that the company has, the Changsha Plant is scheduled to be reorganized as a new joint venture with Mitsubishi. The other plant, Yongzhou Plant, will be reorganized under the GAC Motor. It is reported that GAC Changfeng's SUV brand, Liebao, is expected to be introduced as a proprietary brand of the company.
GAC Changfeng's assets reorganization plan (forecast by the media)
|Plants||Before the reorganization||After the reorganization|
|Affiliation||Production capacity||Production models||Affiliation||Production capacity||Production models|
|Changsha Plant||GAC Changfeng||50,000||Liebao Brand, Pajero||GAC Mitsubishi||250.000- 300.000||Mitsubishi's SUV|
|Yongzhou Plant||50,000||GAC Motor||50,000||Liebao Brand|
Source: Chinese media (Note) GAC Changfeng's first midsize passenger car, the Aucman, is also expected to be introduced in the market as GAC Motor's model in 2012. The model was already announced at the 2009 Shanghai Motor Show, but its release has been delayed because production has not been approved and the GAC Group plans to reorganize the company.
Introduction of new passenger car models (in 2011 and later)
|2011 Trumpchi 1.8L||September 2011||The 1.8-liter version of the Trumpchi. "Trumpchi" is GAC Group's first proprietary brand passenger car, which was launched in December 2010. It is positioned as a B-class vehicle. The existing model used only a 2.0-liter engine. The price of the 1.8-liter model is 109,800-179,800 RMB.|
|Trumpchi GS5||April 2012||The Trumpchi GS5 is a urban-type midsize SUV that adopts a chassis of a base-passenger car (sedan/hatchback). The model is a production model of the X-power, which is a concept car that was exhibited several times at motor shows. It was unveiled at the 2011 Guangzhou Motor Show. The model will be lined off at the beginning of March 2012 and is scheduled to be launched before the Beijing Motor Show to be held in April. The car maker will first start marketing a 2.0-liter model and then will introduce a 1.8-liter turbo model.|
|Trumpchi A class car||2013||The A-class model of the Trumpchi. The model plans to use a 1.8-liter turbo engine that GAC Motor is currently developing. It competes with Japanese models such as Dongfeng Nissan's Tiida and FAW Toyota's Corolla. The car maker will unveil the model in 2012 and is expected to bring it on the market in 2013.|
|Trumpchi C class car||2014||The C-class car of the Trumpchi. It is expected to be launched in 2014.|
|Source: GAC Motor's news release (April 19/August 29/November 21/November 22), Chinese media|
|(Note) 1.||The base model of the Trumpchi series is Alfa Romeo 166. The GAC Group bought the platform of the Alfa Romeo 166, production of which was discontinued in 2007, from Fiat in 2008. The first model Trumpchi was launched in December 2010 and won the maximum award of five-star rating of C-NCAP (China New Car Assessment Program) in 2011.|
|2.||The car maker plans to add a 4WD HV version and an EV version to the Trumpchi series in the future. The 4WD HV version will be equipped with ISG (Integrated Starter Generator), which combines the starter and alternator, and a permanent magnet synchronous motor. The EV version is expected to use the world's most advanced in-wheel motor.|
|Aoxuan G5||April 2011||The Aoxuan G5 is the first mid-range/high-end SUV, which GAC Gonow has launched since it was established. The Shandong Dongying Plant produces the model. The car maker released a model with a 2.4-liter engine at the 2011 Shanghai Motor Show and then introduced a 2.0-liter version in November. In January 2012, it added a 4WD MT and a 2WD AT versions to the existing 2.4-liter model.|
|CDV||End of 2012/ early 2013||The CDV is GAC Gonow's new model that was reported by the local media. The model is a CDV (Car Derived Van) developed based on the platform of a base passenger car (sedan/hatchback). It is expected to be introduced in the market between the end of 2012 and the beginning of 2013.|
Source: Chinese media
|Zelas||March 2011||The Zelas is the second-generation SCION tC, which is an urban-type 2-door sports coupe that is marketed in North America. GAC Toyota started importing and selling it. Two types of the model are available, which are priced at 255,000 and 280,000 RMB.|
|E'z||June 2011||The E'z is China's first FUV (Fashionable Utility Vehicle), which integrates comfort and fuel efficiency of a base passenger car (sedan/hatchback), spacious interior and multi-functionality of an MPV, and dynamic exterior and safety performance of an SUV. The model is GAC Toyota's fourth locally-produced model designed exclusively for China, which is developed based on the needs of Chinese users. It comes with a 1.6-liter, 1.8-liter, or a 2.0-liter engine. The price is 149,800-239,800 RMB.|
|7th-generation Camry||December 2011||The 7th-generation Camry mid-range/high-end sedan. The 2.0-lliter model comes with a 4-speed AT with manual mode while the 2.5-liter model with a 6-speed AT with manual mode. Compared with the 6th-generation 2.4-liter model, the 2.5-liter model boasts the maximum output of 135kW, up 10%; and fuel economy of 7.8L/100km (China's general mode fuel economy), up 24%. The car maker plans to additionally launch a hybrid model, the Camry Zunrui, in mid 2012.|
|2012 Highlander||April 2012||The 2012 Highlander is the 2nd-generation Highlander, which receives a facelift. The model will be announced as early as in April at the Beijing Motor Show and is expected to be introduced in the market.|
|2012 Yaris||2012||The 2012 Yaris is a fully-remodeled 3rd-generation Yaris (Japanese name: Vitz). It is reported by the local media that local production is expected to begin in the first half of 2012.|
Source: GAC Toyota's news release (December 22, 2010, November 21/December 15, 2011, January 9, 2012), Chinese media
|CR-Z||2012||The CR-Z is a hybrid sports car. It comes with Honda's hybrid system- IMA (Integrated Motor Assist).|
|Fit Hybrid||2012||The Fit Hybrid is a hybrid version of Honda's Fit. It comes with Honda's hybrid system- IMA (Integrated Motor Assist).|
|Everus S1||April 2011||The Everus S1 is a first production model of the Everus, which is the first proprietary brand of foreign-affiliated joint venture manufacturers. It is developed under the concept of "Urban New Face Sedan". 4,420mm×1,690mm×1,495mm with a wheelbase of 2,450mm. It comes with a 1.3-liter i-DSI engine and a 5-speed AT or MT, or a 1.5-liter VTEC engine and a 5-speed AT. Three types of the model are available. The price ranges from 69,800 to 99,800 RMB. The model is produced at the Guangzhou Huangpu Plant on the same line as the Accord, the City, and the Fit.|
|2012 Accord||February 2012||The 2012 Accord is the 8th-generation Accord that receives a facelift. Eight types are available. The price ranges from 186,800 to 344,800 RMB.|
|2012 City||February 2012||The 2012 City is the City that receives a facelift. The City is the third-generation City sedan for the overseas market. The model comes with a 1.5-liter or a 1.8-liter engine. Seven types are available. The price ranges from 96,800 to 159,800 RMB.|
|Crosstour 2.4L||April 2012||The Crosstour 2.4L is a 2.4-liter model of the Crosstour, which is the GAC Group's first high-end vehicle launched in 2010. The existing model comes only with a 3.5-liter engine. The 2012 sales target is 30,000 units. The expected price is reported to be 300,000 RMB.|
|2012 Odyssey||First half of 2012||The 2012 Odyssey is the 4th-generation Odyssey that receives a facelift. The model is expected to improve its performance while suppressing its price.|
|2012 Fit||First half of 2012||The 2012 Fit is the 2nd-generation Fit that receives a facelift. The model is expected to improve its performance while suppressing its price.|
|Fit EV||the end of 2012||The Fit EV is an EV version of the Fit. Honda started demonstration tests in Guangzhou City in November 2011. Small-lot production is scheduled to begin at the end of 2012. The car maker is expected to initially introduce the model in areas including Guangzhou, Shenzhen, and Hangzhou, where the infrastructure for EVs is relatively prepared. There is also a possibility that the car maker lease the model.|
|9th-generation Accord||Second half of 2013||This is a local model of the 9th-generation Accord, which is fully-remodeled. A hybrid version is also expected to be available. The model will roll off the line in December 2012 and is expected to be marketed in 2013.|
|Everus S1 (face-lifted)||2012-2013||This is the Everus S1 that receives a face-lift. The car maker is expected to upgrade the exterior and the equipment reflecting the needs of the market.|
|Everus Brand 2nd model||2014||According to a local media report, research on a second model under the Everus brand, following the S1, is currently under way. The announcement is expected to be made in 2014.|
Source: Guangqi Honda's news release (March 12/March 26/April 17/May 19/November 21, 2011), Honda's news release (April 18, 2011), Chinese media
|Fiat 500||September 2011||The Fiat 500 is a high-end small car. It comes with a 1.4-liter MultiAir (100kW, 133Nm) engine in combination with a 6-speed AT with manual mode. The price is 169,800-228,800 RMB.|
|Freemont 2.4L||January 2012||The Freemont 2.4L is a crossover SUV. It comes with a 2.4-liter Dual VVT engine (129kW, 225Nm) in combination with a 6-speed AT with manual mode. The price is 249,800-274,800 RMB.|
|Freemont 3.6L||Second half of 2012||The Freemont 3.6L is the AWD (four-wheel drive) model of the Freemont. The model comes with a 3.6-liter Pentastar V6 engine in combination with a 6-speed AT with manual mode.|
|C-Medium||July 2012||The C-Medium is a midsize model that adopts Alfa Romeo Giulietta's Compact platform and that is designed for China. It comes with a 1.4-liter turbo engine in combination with a dual dry clutch transmission. The prototype has already been completed. The model will be introduced in July 2012 at the same time when the Changsha Plant starts operations.|
Source: GAC Fiat's HP, GAC Fiat's news release (September 15, 2010, January 12, 2012), Chinese media
Sales volume by model
In 2011, the disruption of the supplier chain by the Great East Japan Earthquake and the flooding in Thailand greatly affected production of Japanese-affiliated joint venture manufacturers in the GAC Group. The Group's sales volume grew only slightly by 2.22% year-on-year to 740,000 units, even when the sales volume of GAC Gonow, which came under the umbrella of the Group at the end of 2010, is included. Sales volume of GAC Toyota increased slightly by 1.85% year-on-year to 274,000 units while that of Guangqi Honda declined by 6.15% year-on-year to 362,000 units.
GAC Group's sales volume by model
|Total of Passenger Cars||603,509||719,639||721,095|
|GAC Motor||Sedan, Hatchback||Trumpchi||122||17,006|
|GAC Changfeng's Total||39,048||31,196|
|GAC Gonow's Total||11,933|
|GAC Toyota||Sedan, Hatchback||Camry||156,229||161,411||143,720|
|GAC Toyota's Total||209,587||269,429||274,417|
|Guangqi Honda||Sedan, Hatchback||Accord||175,361||171,728||160,735|
|Guangqi Honda's Total||365,623||386,031||362,294|
|Honda (China)||Sedan, Hatchback||Jazz||28,299||25,009||24,249|
|Total of Commercial Vehicles||3,112||4,704||19,296|
|GAC Group' Total||606,621||724,343||740,391|
|Source: MarkLines Data Center, Press release of each company, Chinese media|
|(Note) 1.||Models marked with "*" are those that are no longer produced.|
|2.||Since GAC Changfeng went under the umbrella of the GAC Group in November 2009, sales volume in 2010 and later is shown. The base model of the Liebao is Mitsubishi Pajero.|
|3.||Since GAC Gonow is a new joint venture company that was established in December 2010, sales volume in 2011 is shown.|
|4.||The City in the upper row is the first-generation City sedan for the overseas market. With the launch of the City in the lower row, which is the third-generation City sedan for the overseas market, production of the first-generation model was discontinued in December 2008.|
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