HONG KONG, May 21, 2019 /PRNewswire/ -- GAC Motor, China's leading automaker, hosted the opening ceremony of GAC Motor International Limited in Hong Kong on May 21st. The ceremony was attended by distinguished guests from the government, executives of GAC Group and GAC Motor, business partners and international media.
GAC Motor International Limited is a wholly-owned subsidiary of GAC Motor in Hong Kong, which will serve as GAC Motor's platform for capital, talent and investment, optimize the receipt and payment process and work with financial institutions to provide inventory ownership service for international dealers. Taking Hong Kong as a hub, it will advance the trade operations with international partners and further merge GAC Motor into the global automobile industry.
"As global free port and international financial center, Hong Kong has its unique advantages in the economic and trade environment and an open and tolerant culture. Hence it is the perfect portal connecting GAC Motor and the world. The official launching of GAC Motor International Limited is a crucial step showing how we will make Hong Kong as our regional hub and push forward our internationalized development." noted YU Jun, president of GAC Motor.
Entering into the global market in 2013, GAC Motor is now operating in 16 countries worldwide with subsidiaries in U.S. and Russia. It has increased overseas sales by 69 percent in 2018 and gradually launched sales in the more mature markets of developed countries while covering the emerging markets.
In terms of brand building, GAC Motor also has a good performance. Coined as "Best Chinese Car Brand" in several overseas markets, GAC Motor is the No.1 bestselling Chinese automobile brand in Kuwait, Bahrain and Nigeria. It's also ranked among Brand Finance's top 100 most valuable brands in 2018.
GAC Motor maintained a good momentum of development in the international market. In the Middle East, it has opened sales and service centers in nine countries including United Arab Emirates, Saudi Arabia, etc. It newly introduced its star models GS3 and GA4 into Kuwait market and celebrated the launching of its new models in Qatar this month. In Southeast Asia, GAC Motor officially came into the Philippines market witnessed by the President of the Philippines. The brand and products are favored by the local consumers. At the same time, GAC Motor also entered the Bolivian market, adding another branch to the South American market.
Step into 2019, GAC Motor made appearances at the international motor show in the U.S., Kuwait and Russia, and returned to the U.S. National Automobile Dealers Association Show (NADA Show), winning the great attention of global media, dealers and consumers. The company also plans to enter the Russian market later this year.
GAC Motor plans to operate in 25 countries in 2019, emphasizing synchronized product planning, global R&D and improved product quality. With excellent quality, cutting-edge designs and thoughtful service, the carmaker will continue to show the strength of the brand to customers around the world.
Facing the growing overseas business, GAC Motor International Limited provides distributors with a more efficient and convenient platform for resource planning, process optimization, and fund management, deepening the partnership with overseas dealers and laying a solid foundation for the high-quality development of GAC Motor in overseas markets.
"By making full use of the policies, environment, conditions and industry basis in the Guangdong-Hong Kong-Macao Greater Bay Area, we will establish the overall brand competitiveness, enhance our global sales network and accelerate the process of our brand internationalization," YU said.
About GAC Motor
Founded in 2008, Guangzhou Automobile Group Motor CO., LTD (GAC Motor) is a subsidiary of GAC Group which ranks 202nd among Fortune Global 500 companies. The company develops and manufactures premium quality vehicles, engines, components and auto accessories. GAC Motor has now ranked first among all Chinese brands for six consecutive years in J.D. Power Asia Pacific's China Initial Quality Study SM (IQS), demonstrating the company's quality-centric strategy from innovative research and development (R&D), manufacturing to supply chain and sales & services.