SAIC Motor Reports 2.384 Million Sales in Jan–Jul, Driven by Own Brands, NEVs, and Overseas Growth

SAIC Motor Corporation Limited reported cumulative vehicle sales of 2.384 million units from January to July 2024, maintaining its position as China’s top automaker. In July alone, the company sold 339,000 vehicles. Domestic brands served as the core growth driver, with cumulative sales of 1.725 million units from January to July, up 13.6% year-over-year, accounting for 72.4% of the group’s total sales. July sales reached 257,000 units, an increase of 19.9% year-over-year, marking the seventh consecutive month of year-on-year growth. Specifically, SAIC Motor Passenger Vehicle Company sold 656,000 units during the period, surging 53.4% year-over-year; SAIC Maxus recorded sales of 161,000 units, up 29.2%; and SAIC-GM-Wuling achieved sales of 789,000 units, consistently exceeding 100,000 units per month. In the new energy vehicle (NEV) segment, SAIC sold a total of 973,000 units from January to July, up 27.4% year-over-year, including 177,000 units in July alone, a 50.7% year-over-year increase. Among domestic brands, IM Motors sold 46,000 units from January to July, soaring 82.4% year-over-year; SAIC Motor Passenger Vehicle’s NEV sales reached 296,000 units, jumping 227.8%; the MG4 family delivered over 17,000 units in July; the MG 07 launched pre-sales on July 29 and received over 21,000 orders within 20 hours; the Shangjie Z7/Z7T models, which began deliveries at the end of May, have surpassed 20,000 cumulative units; SAIC Maxus’ NEV sales totaled 56,000 units, up 77.5%; and SAIC-GM-Wuling’s NEV sales reached 417,000 units, with the Wuling Starlight S delivering over 7,200 units in July. Among joint ventures, SAIC-GM sold 62,000 NEVs from January to July, up 75.2% year-over-year; SAIC Volkswagen sold 36,000 NEVs, with the Audi E7X surpassing 7,000 deliveries within two months of launch, and the ID. ERA 9X ranking among the top-selling extended-range large SUVs. Overseas markets also demonstrated strong performance, with cumulative exports of 876,000 units from January to July, up 52.1% year-over-year, including 142,000 units exported in July alone, a 72.5% year-over-year increase. In Europe, the MG brand sold 218,000 units from January to July, up 22.8% year-over-year, retaining its position as the best-selling Chinese brand in the region. In June, MG HEV hybrid models achieved nearly 27,000 overseas sales, doubling year-over-year. At the MG UK Tech Day in July, the company showcased key technologies including its Plug-in Hybrid+ system, SolidCore semi-solid-state batteries, and the MG Parking intelligent cockpit. Additionally, SAIC Motor ranked 125th on the 2024 Fortune Global 500 list, rising 13 places from the previous year. In the second half of 2024, SAIC plans to launch several new intelligent electric vehicles, including the Roewe Jiayue 07 and MG 07.