GAC's NEV arm sees jolt in sales

GAC Aion, an important new energy vehicle arm of GAC Group based in Guangzhou, Guangdong province, witnessed a sharp increase in sales in March following reduced production costs and price for NEVs.

The company's sales increased by 97 percent year-on-year to 40,016 vehicles in March, bringing the total to 80,308 vehicles in the first three months of 2023.

Local authorities in Guangzhou have announced a series of incentives to further promote consumption of high-quality vehicles, especially domestically developed NEVs.

Individual consumers who purchase these NEVs from March to the end of this year will be provided with subsidies of 6,000 yuan to 10,000 yuan per unit, based on the vehicle prices ranging from 100,000 yuan to 200,000 and above.

GAC Aion will further promote its cutting-edge technologies in the development of NEVs among consumers by launching tech day activities across the country.

China's sales of NEVs expanded 34.8 percent year-on-year to about 653,000 units in March, data published on Tuesday by the China Association of Automobile Manufacturers showed.

The country's NEV sales in the first quarter totaled nearly 1.59 million units, increasing by 26.2 percent from a year ago.