SAIC Motor, a leading Chinese automaker, faced a 25.92% year-on-year drop in auto sales in June 2024. Despite the decrease in overall sales, the company managed to sell 93,422 new energy vehicles (NEVs) in the past month, marking an 8.8% increase from the previous year.
In June 2024, SAIC Motor’s overseas sales totaled 81,223 vehicles, including exports and sales from its overseas bases, representing a 14.47% decline compared to the same period last year. The company’s cumulative sales for the first half of the year reached 1,826,954 vehicles, down by 11.81% year-on-year.
Among SAIC Motor’s sub-brands, IM Motors, a premium electric vehicle brand co-owned with Alibaba Group and Zhangjiang High-Tech, experienced significant growth with 5,200 vehicles sold, marking a 159.09% increase from the previous year.
However, some of SAIC Motor’s joint ventures experienced declines in sales. SAIC-GM recorded a 72.02% year-on-year decrease in sales, with 26,021 units sold in June. SAIC-GM-Wuling also saw a slight decrease of 4.46% in monthly sales, reaching 107,000 units. SAIC MOTOR Passenger Vehicle Company and SAIC Maxus reported sales decreases of 24.62% and 19.06%, respectively, with sales figures of 54,576 and 15,020 vehicles in June.
Despite the challenges faced by SAIC Motor in the auto market, the company continues to focus on innovation and expanding its presence in the electric vehicle sector. The collaboration with Alibaba Group and Zhangjiang High-Tech in the IM Motors brand is a clear example of SAIC Motor’s commitment to sustainable mobility solutions.
Overall, SAIC Motor remains a key player in the Chinese automotive industry, adapting to market changes and driving towards a greener future with its NEV sales growth and strategic partnerships.
