China's largest carmaker SAIC Motor sold 406,000 vehicles in June and maintained its rapid growth momentum, according to official data released on July 7th, 2023.
In the first half of the year, SAIC Motor sold more than 2 million vehicles. More than 1.18 million vehicles were sold in the second quarter, 32.5 percent more than the first quarter. In the second half of the year, the carmaker will target the huge market potential in new energy vehicles (NEVs) and seize the development opportunities in the increasingly competitive overseas markets to nurture new growth drivers in innovation and transformation.
SAIC Motor witnessed a surge in the sales of NEVs in June, with 86,000 units sold during the period, up 13.1 percent month-on-month, a new high for the year. From January to June, SAIC Motor sold 372,000 NEVs, the second highest among Chinese automakers.
In June, both SAIC Motor's self-owned brands and joint ventures experienced sharp increases in sales. SAIC Motor Passenger Vehicle Company, one of its subsidiaries, sold 32,000 NEVs in June, up 59.3 percent year-on-year. Its IM LS7 has been ranked first in sales among China's mid-to-large-sized pure electric SUVs for three consecutive months, and the monthly sales of SAIC Motor's Rising Auto increased by 70 percent year-on-year during the period.
SAIC GM-Wuling's Bingo continued to sell well, with cumulative sales exceeding 60,000 units in the three months since its launch. The monthly sales of NEVs of SAIC Volkswagen and SAIC-GM both hit new highs in June, reaching almost 10,000 units.
SAIC Motor's overseas sales saw a sharp growth in June. Statistics showed that a total of 95,000 vehicles were sold overseas. In the first half of the year, SAIC sold 533,000 vehicles overseas, up 40 percent year-on-year. Its MG brand sold 115,000 vehicles in the European market alone, a 143 percent year-on-year increase, while MG's NEVs accounted for over 50 percent of its total sales in the January-June period.
MG's products and services are available in 28 European countries with more than 830 outlets throughout Europe. Monthly deliveries of MG in Europe have exceeded 20,000 units in a row for four consecutive months. Meanwhile, SAIC Motor is seeking sites for its factory in Europe to meet growing demands.
The European region is predicted to be the first overseas area for SAIC Motor to reach a gross selling volume of more than 200,000 units this year. While sales figures in five other regional markets such as the Americas, the Middle East, Australia and New Zealand, ASEAN and South Asia are also estimated to pass 100,000 units. The carmaker aims to reach 1.2 million vehicles abroad in 2023.
SAIC Motor Corporation Limited published this content on 13 July 2023 and is solely responsible for the information contained therein. Distributed by, unedited and unaltered, on 13 July 2023 11:04:07 UTC.