SAIC Motor sells over 5 million vehicles in 2023

SAIC Motor sold a total of 5.02 million vehicles in 2023, maintaining its position as the top domestic automaker for the 18th consecutive year.

The quarterly vehicle sales for the year were 0.89 million, 1.18 million, 1.31 million, and 1.64 million, respectively, reflecting the company’s strong recovery.

SAIC Motor achieved record feats in 2023 in the areas of new energy vehicles (NEVs) and overseas sales. After surpassing the milestone of selling over 1 million NEVs in 2022, SAIC Motor sold a total of 1.12 million NEVs in 2023, a year-on-year increase of 4.6 percent and ranking second among domestic automakers. It also achieved a record 1.208 million units in overseas sales, an 18.8 percent year-on-year increase, maintaining its position as the top domestic automaker in overseas sales for the eighth consecutive year. This has played a pivotal role in propelling China to become the world's largest exporter of automobiles.

SAIC Motor has made continuous efforts to optimize its production and sales structure. In 2023, with the launch of a series of high-profile new vehicles, SAIC Motor's self-owned brands continued to strengthen their position, while joint ventures showed the effectiveness of their transformation efforts. The sales volume of the company's self-owned brands reached 2.775 million units, accounting for over 55 percent of the group's total volume and an increase of 2.5 percentage points as compared to 2022. At the same time, the company focused on improving the proportion of mid-to-high-end product, continuously enhancing operational quality, and achieving stable growth in revenue, further strengthening the resilience of its performance.

SAIC Motor launched a three-year action plan for the development of NEVs last year. In terms of self-owned brands, IM Motors sold 38,300 units throughout the year, a year-on-year increase of 665 percent. In December, sales of IM Motors reached a new milestone, surpassing the 10,000-unit mark. Its latest LS6, a large and medium-sized pure electric SUV, has ranked first in sales for several weeks, firmly establishing its presence in the high-end market.

SAIC Motor Passenger Vehicle (including overseas bases) sold 358,000 NEVs, a year-on-year increase of 43.5 percent, while SAIC-GM-Wuling (including overseas bases) sold 459,000 NEVs, with the Wuling Bingo surpassing 30,000 units in monthly sales for two consecutive months, becoming a new sales driver. In terms of joint ventures, SAIC Volkswagen and SAIC GM maintained their leading positions in the joint venture NEV market.

SAIC Volkswagen sold over 130,000 NEVs throughout the year, growing by 32.1 percent year-on-year, and in December alone, the monthly sales of SAIC Volkswagen's NEVs exceeded 20,000 units for the first time, with the ID.3 becoming a popular model among joint venture pure electric vehicles. SAIC GM sold 100,000 NEVs throughout the year, doubling its sales compared to the previous year, with the Buick Velite surpassing 10,000 units in monthly sales.

In 2023, SAIC Motor achieved overseas sales of 1.21 million units, a year-on-year increase of 18.8 percent, maintaining its position as the leader among Chinese automotive companies for eight consecutive years. Sales of its self-owned brands accounted for nearly 92 percent, while NEV sales accounted for nearly 24 percent.

Its MG4 EV has been launched in over 80 countries across six continents and has been awarded over 30 overseas authoritative awards, including the "Car of the Year" in the United Kingdom, France, Germany, and Australia. In 2023, MG4 EV was recognized as the top-selling compact pure electric vehicle in Europe, with overseas monthly sales surpassing 10,000 units, making Europe SAIC Motor's first overseas market with sales exceeding 200,000 units. In the future, the automaker will introduce 14 new intelligent electric global models to overseas markets, further strengthening its overseas portfolio and achieving full coverage in mainstream segmented markets.

SAIC Motor will remain committed to a user-oriented approach, focus on the new track of electric and intelligent vehicles, accelerate the formation and sustained expansion of new quality productivity, and lead the transformation and upgrading of the industry.