SAIC Motor sold more than 400,000 cars in May, a year-on-year increase of 10.2 percent,continuing its growth streak that began in January.
SAIC Motor Passenger Vehicle Company sold 338,000 cars from January to May, a year-on-year increase of 19.5 percent, while SAIC Maxus sold 87,000 cars, an increase of 20.9 percent compared to the same period last year.
SAIC Motor has also witnessed a boom in new energy vehicle (NEV) sales, with 286,000 units sold from January to May. Sales of the new Buick Electra E5 SUV have been particularly swift, averaging 100 units sold per day during the period.
SAIC Motor’s overseas sales have been strong. From January to May, SAIC sold 438,000 vehicles overseas, up 47.7 percent year-on-year. In May alone, SAIC sold 92,000 vehicles outside of China. Its MG brand was a standout performer, selling 21,000 vehicles in the European market alone – an increase of 170 percent year-on-year.
On April 18, SAIC released its Three-Year Action Plan for the Development of New Energy Vehicles, signaling its intention to focus more on issues related to future-oriented electric and intelligent technologies. According to the plan, its annual sales of NEVs will strive to achieve 3.5 million units by 2025, 2.5 times the 2022 figure, with a compound annual growth rate of 50 percent. Among them, sales of its self-owned brand NEVs will account for 70 percent of its total NEV sales.
In May, IM Motors, a joint venture between SAIC Motor, Zhangjiang Hi-Tech, and Alibaba Group, sold 2,009 vehicles, marking the third consecutive month it sold more than 2,000 units. Sales of its IM LS7, a mid-to-large-sized pure electric SUV, also increased.
Meanwhile, SAIC Motor’s premium electric vehicle brand Rising Auto ramped up deliveries of its mid-to-large-sized pure electric sedan F7 in May, marking the first time the company has delivered more than 2,000 vehicles.
On June 12, IM Motors launches a new variant of the IM LS7, announces its latest achievements in intelligentization and reveal new innovations such as the "sidelight perception and interaction system" that provides a safer and more enjoyable driving experience.
