GAC (2238.HK) Huge Matthew Effect February 26, 2019

PSR Recommendation: ACCUMULATEStatus: DowngradedTarget Price: HKDHKD11.30

GAC Toyota Surge 75% YOY in the First Month, Surpassing GAC Honda
According to data released by GAC recently, in the first month of 2019, the total sales of GAC
reached 210,000 units, a slight decrease of 0.21% yoy. Among them, the seals of joint
venture brand GAC Honda were 74,000 units, a decrease of 2% yoy; sales of GAC Toyota
were 80,000 vehicles, an increase of 75% yoy; GAC Toyota`s monthly sales volume exceed
GAC Honda`s, showing its strength matching its global ranking

About the author

Profile photo of Zhang Jing

Zhang Jing
Phillip Securities (HK)

Bachelor Degree in Tongji University of Engineering; Master Degree in East China Normal University of finance. Currently covering the automobile and air sectors. She has years of experience in investment research and is good at combining analysis for the companies with industry prospects.

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