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Shanghai (Gasgoo)- On March 28, GAC Group officially released its 2024 financial results, reporting total revenue of 106.798 billion yuan, a year-on-year decline of 17.05%. In the same period, the group's net profit attributable to shareholders dropped 81.4% from a year earlier to 823.582 million yuan. Despite the downturn in revenue and net profit, GAC Group's cash reserves stood at 47.3 billion yuan as of December 31, 2024, an increase of 1.419 billion yuan from the previous year. Photo credit: GAC Group For the year, GAC Group's total consolidated revenue was approximately 401.65 billion yuan, with combined revenue at 107.78 billion yuan. The group sold 2.0031 million vehicles in 2024, down 20.04% year-on-year. GAC Honda recorded sales of 470,600 units, a 26.52% decline from a year ago, with revenue falling 27.03% to 68.25 billion yuan. GAC Toyota sold 738,000 vehicles, down 22.32% over the previous year, with revenue slipping 28.34% year over year to 109.545 billion yuan. However
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