广汽预亏90亿，本田成最大“拖油瓶”！ 降价减配都难救？ | 次世代车研所

Core Viewpoint - GAC Group is facing a significant decline in performance, with a projected net loss of up to 90 billion yuan for 2025, marking the largest drop in nearly a decade. The company's ambitious sales target of 2.3 million vehicles has also not been met [2][19]. Financial Performance - GAC Group's forecast for 2025 indicates a net profit attributable to shareholders of between -80 billion and -90 billion yuan, a stark contrast to the profit of 8.24 billion yuan in 2024, representing a nearly tenfold decrease [19]. - The revenue growth rate for GAC Group has slowed from 45.72% in 2023 to 17.62%, with a further decline expected in 2024 [22]. Sales Performance - The actual vehicle sales for GAC Group in 2025 are approximately 1.72 million, a 14.06% decrease compared to the previous year, falling short of the 2.3 million target [25]. - GAC Honda, a major brand under GAC Group, has seen a cumulative sales drop of 25.22% year-on-year, with total sales of 351,926 vehicles by the end of last year [9][25]. Market Strategy and Adjustments - In response to the declining performance, GAC Group has initiated the "Panyu Action" reform, which includes measures such as creating an operational headquarters and integrating operations for its self-owned brands [22][23]. - GAC Group is also restructuring its management of self-owned brands, establishing new departments to oversee marketing and sales for brands like Trumpchi and Aion [23]. Challenges in Product Offering - GAC Honda's flagship model, the P7, has seen a drastic price reduction from a suggested retail price of 199,900 yuan to an actual selling price of 149,900 yuan, reflecting a 25% decrease [12][30]. - The sales of GAC Honda's P7 model have been disappointing, with January sales plummeting by 69.86% year-on-year, indicating a deep adjustment period for the brand [11][30]. Competitive Landscape - Compared to other brands within GAC Group, GAC Honda's performance is notably weaker, with competitors like GAC Aion and GAC Toyota showing positive growth in sales [11][27].