SAIC Motor reports 43.7% sales jump in July
SAIC Motor, China's largest automaker, sold 507,000 vehicles in July, up 43.7 percent year-on-year, and the company reported a continuous sales rise for three consecutive months, according to statistics released by the carmaker on Aug 5.
In July, sales of SAIC Motor’s self-owned brand cars, new energy vehicles (NEVs), and exports all maintained steady growth, and SAIC Motor Passenger Vehicle Company, one of its subsidiary corporations, sold 86,000 units during the period, a year-on-year growth of 72.8 percent. Sales of its NEVs reached 106,000 in July, surging 118.1 percent year-on-year, while overseas sales hit a record high of 98,000 units, a year-on-year increase of 91.3 percent, according to official data.
Joint ventures of SAIC Motor have seen a faster recovery in July. Official data showed that SAIC Volkswagen, a Sino-German joint venture, sold 130,000 vehicles during the same period, up 85.2 percent year-on-year, and vehicle sales of SAIC-GM reached 115,000, a year-on-year increase of 27.8 percent. SAIC GM-Wuling recorded vehicle sales of 145,000 units in July, up 31.8 percent year-on-year. In the January-July period, SAIC Motor sold more than 2.74 million vehicles, and reported the fastest growth rate in China’s auto market.
Faced with the adverse impacts of COVID-19 in the second quarter of this year, SAIC Motor sped up the resumption of work and production to catch up with its annual sales target of 6 million.
SAIC Motor’s self-owned brands also reported a rapid sales growth in July, with its sales reaching 260,000 units, accounting for more than 50 percent of the carmaker's total sales. The monthly sales of Roewe i5, MG ZS, and MG5 all exceeded 10,000. Orders for the new third generation Roewe RX5 and the super hybrid eRX5 exceeded 10,000 within 2 hours after initiating of the pre-sales.
Orders of the IM L7, which was developed by IM, a joint electric vehicle development venture between SAIC Motor, Alibaba, and ZJ INNOPARK, have reached 1,051 units since it started nationwide delivery on June 18. SAIC Motor's R brand launched the SUV R7, which started pre-sales in February. Users in major cities across China can have a trial run to experience the exciting driving experience brought by the R7.
The total sales of NEVs are increased by 118.1 percent year-on-year to 106,000 units in July. Among them, SAIC Motor Passenger Vehicle Company sold 20,000 NEVs during the period, up 48 percent year-on-year. The NEV sales of SAIC Volkswagen surpassed 15,000 units, a year-on-year increase of 294.7 percent, and the monthly sales volume of SAIC Volkswagen’s ID electric model reached the 10,000-unit mark for the first time. SAIC-GM sold nearly 5,000 NEVs in July, growing by 168.3 percent year-on-year. Hongguang MINI EV of SAIC-GM-Wuling is still the most popular electric model in China.
SAIC Motor set a new record in its overseas markets. In July, the carmaker sold a total of 98,000 units, up 91.3 percent year-on-year, while its MG-branded vehicles won the monthly "Pure Electric Sales Champion" honor in the Swedish auto market for the first time, and the monthly sales of MG vehicles in Europe are expected to exceed 10,000. Its new EV model, the MG4 Electric, which debuted in June and is based on SAIC Motor's brand-new MSP platform made specifically for electric vehicles and equipped with the automaker's One Pack battery, is scheduled to go on sale in Europe in the fall of this year. SAIC Motor plans move more quickly toward realizing its "first 100,000-vehicle regional market" in Europe this year with the aid of MG4 Electric.In August 2022, business magazine Fortune released its latest Global 500 list, and SAIC Motor ranked 68th with a total revenue of $120.9 billion, continuing to lead Chinese competitors. SAIC Motor made the list for the first time in 2004, and since then, it has been among the top 100 companies on the list for nine consecutive years.