JAC Motors released its financial report showing a 9.17% year-on-year decrease in total sales in February this year. The state-owned car company based in Anhui Province has seen sales decline for five consecutive months and has been experiencing net losses for eight consecutive years.
On the evening of March 10, JAC Motors released its production and sales report for February 2025. The data revealed that the cumulative production in February was 25,200 vehicles, a 1.7% increase compared to the same period last year, while total sales reached 26,900 vehicles, marking a 9.17% decrease year-on-year.
Including February figures, JAC Motors has seen a decline in monthly sales for five consecutive months, with decreases of 20.15%, 15.68%, 11.06%, and 9.39% from October 2024 to January 2025.
Breaking down by vehicle type, in the passenger vehicle segment, JAC Motors sold 3,143 sedans in February, a 39.63% decrease year-on-year; SUV sales were 6,332 vehicles, a 20.63% increase; MPV sales amounted to 1,179 vehicles, a 0.68% increase. Among these, sales of new energy passenger vehicles totaled 1,041 vehicles, a 40.34% decrease compared to last year.
In the commercial vehicle segment, JAC Motors sold 10,800 trucks in February, a 7.14% decrease year-on-year; pickup truck sales were 4,093 vehicles, a 7.94% increase; sales of multifunctional commercial vehicles amounted to 914 vehicles, a 58.26% decrease; and bus sales were 358 vehicles, an 11.88% increase year-on-year.
Founded in 1964, Anhui Jianghuai Automobile Group Limited is a state-owned automotive enterprise group.
According to the Shenzhen Commercial News, Choice Data shows that JAC Motors’ non-GAAP net profit has been consistently in a deficit state, with accumulated losses exceeding 11 billion yuan from 2017 to 2023.
Recently, JAC Motors announced its performance forecast, stating that the company expects a net loss of approximately 1.77 billion yuan for the fiscal year 2024, compared to a profit last year. The expected non-GAAP net loss is around 2.74 billion yuan, an increase in losses compared to the previous year.