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    600104   CNE000000TY6

SAIC MOTOR CORPORATION LIMITED

(600104)
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SAIC Motor : sets year-high monthly sales volume in Sep

10/11/2021 EST

Chinese automaker SAIC Motor sold 516,000 vehicles in September, a month-on-month increase of 13.1 percent, with its sales volume maintaining a double-digit increase since the start of the second half of the year.

The sales volume of SAIC Motor's self-owned brands, including Roewe, MG, R-Brand, Maxus, Wuling, and Baojun, reached 264,000 vehicles in the same month.

SAIC Motor Passenger Vehicle Company sold 81,000 Roewe, MG, and R branded vehicles, a year-on-year increase of 34 percent and a monthly increase of 25 percent, while the sales volume of Roewe RX5, i5, and MG ZS exceeded 10,000 units.

Impacted by the global chip shortage and other unfavorable conditions, the sales volume of China's automobile market has been dropping since May.

Sales volume of new energy vehicles continue soaring

In the first nine months of the year, SAIC Motor sold 479,000 NEVs, a year-on-year increase of 231.2 percent, the highest increase in the industry.

In September alone, the carmaker sold 64,000 NEVs, a year-on-year increase of 61.3 percent, and 70,000 NEVs were delivered to the end users, a year-on-year increase of 145 percent.

SAIC Motor Passenger Vehicle Company sold more than 17,000 Roewe, MG, and R-Brand NEVs, a year-on-year increase of 186.6 percent, while the sales volume of MG HS plug-in hybrid, MG ZS EV, Ei5, ER6, as well as other medium and high-end NEVs exceeded 10,000 vehicles.

The sales volume of SAIC Volkswagen's NEVs reached more than 7,000 vehicles, a year-on-year increase of 169.8 percent, while its ID-series electric cars have been setting a record high in sales volume each month since April.

Overseas sales volume continues to top China

SAIC Motor's overseas sales volume amounted to 442,000 vehicles in the Jan-Sept period, surpassing its sales volume in 2020 and remaining the highest in China.

In September, SAIC Motor sold about 72,000 vehicles in overseas markets, a year-on-year increase of 70.7 percent, while the overseas sales volume of its self-owned brands MG and Maxus reached 40,000 vehicles, with Europe, Australia, and New Zealand being particularly successful markets.

SAIC Motor's Marvel R, a flagship pure electric SUV, has recently appeared on the European market with a retail price of 39,990 to 47,990 Euros ($46,220 to $55,473). In addition, a face lifted version of the MG ZS EV, a popular EV model in Europe, has also been released recently.

Disclaimer

SAIC Motor Corporation Limited published this content on 11 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 October 2021 07:01:03 UTC.


ę Publicnow 2021
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Sales 2021 795 B 125 B 125 B
Net income 2021 25 242 M 3 959 M 3 959 M
Net cash 2021 70 724 M 11 092 M 11 092 M
P/E ratio 2021 9,51x
Yield 2021 3,86%
Capitalization 237 B 37 182 M 37 185 M
EV / Sales 2021 0,21x
EV / Sales 2022 0,16x
Nbr of Employees 204 815
Free-Float 22,6%
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Number of Analysts 24
Last Close Price 20,52 CNY
Average target price 24,36 CNY
Spread / Average Target 18,7%
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Managers and Directors
Xiaoqiu Wang President & Director
Yong Wei Chief Financial Officer & Board Secretary
Hong Chen Chairman
Xiao Su Chen Chairman-Supervisory Board
Si Jie Zu Chief Engineer & Deputy General Manager
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