GUANGZHOU, April 1 (Xinhua) -- Chinese automaker Guangzhou Automobile Group Co., Ltd. (GAC Group) saw its total revenue in 2018 grow 7.04 percent year on year to about 363.7 billion yuan (54.2 billion U.S. dollars).
According to its annual report released Monday, the group bucked the industry trend with production and sales up 8.77 percent and 7.34 percent respectively, as China's domestic automobile industry faced negative growth for the first time in 28 years, according to the report.
In 2018, the group's annual auto production and sales were 2.19 million and 2.15 million respectively. The sales growth was about 10 percentage points higher than the industry average, and its market share increased to about 7.65 percent.
"The sales of our own brand vehicles have exceeded 500,000 for two consecutive years," said Zeng Qinghong, chairman of GAC Group, adding that the group's joint venture brands have also maintained steady and fast growth.
