SAIC Motor, one of China’s leading automotive companies, reported a monthly wholesale volume of 478,767 vehicles in November 2024. While this figure was a 7.06% decrease compared to the previous year, it marked a significant 19.13% increase from the previous month. The company’s strong performance was driven by the sale of 174,869 new energy vehicles (NEVs), which represented a 16.06% year-on-year increase.
In terms of exports and overseas market sales, SAIC Motor reported a volume of 94,153 vehicles in November, a decline of 20.05% compared to the same period last year. Despite this decrease, the company remains optimistic about its overall performance.
Looking at the cumulative wholesales for the first eleven months of 2024, SAIC Motor posted a year-on-year decline of 19.48%, with total sales reaching 3,529,993 vehicles. The company’s NEV sales for the year-to-date period stood at 1,079,984 units, marking a significant 19.53% increase over the previous year. Additionally, export volume and overseas market sales totaled 937,493 units, down 12.13% from the same period in 2023.
Breaking down the November wholesales by specific subsidiaries, SAIC Volkswagen saw a 10.41% year-on-year growth with 132,510 vehicles sold. Other subsidiaries such as SAIC-GM-Wuling, IM Motors, SAIC Motor-CP, and MG Motor India also experienced significant sales increases. However, SAIC-GM, SAIC MOTOR Passenger Vehicle Company, and SAIC Maxus reported decreases in sales compared to the previous year. SAIC-GM-Wuling Indonesia Co., Ltd. also saw a 9.55% year-over-year decrease in monthly wholesales.
Overall, SAIC Motor’s performance in November reflects the company’s ongoing commitment to innovation and sustainability in the automotive industry. With a strong focus on NEVs and a diverse portfolio of vehicles, the company is well-positioned for future growth and success in the global market.
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