SAIC Motor reports 16.7% sales growth in March
China's largest carmaker SAIC Motor sold 352,000 vehicles in March, posting a month-on-month increase of 16.7 percent. The company continues to lead the automobile industry in China, while showing good momentum for positive and steady growth.
Sales of its subsidiaries, including SAIC Motor Passenger Vehicle Company, SAIC Maxus, and SAIC Volkswagen, as well as new energy vehicle (NEV) sales of SAIC-GM all achieved year-on-year growth. The carmaker also witnessed a sales growth in its overseas market, with a year-on-year growth of more than 90 percent.
Last month, SAIC Motor launched a number of new models, such as IM Motors' LS7, Rising Auto's F7, MG7, and SAIC GM-Wuling's Bingo. Monthly deliveries of IM Motors exceeded 2,000 units for the first time, weekly orders of F7 and MG7 both exceeded 1,500 units, while SAIC GM-Wuling's Bingo saw its orders exceeded 3,000 units per week. SAIC Motor's sales are expected to maintain upward momentum in April and achieve overall growth.
In March, the total sales of IM Motors reached 2,007. The LS7, its first mid-and-large-sized SUV, has seen a steady increase in total deliveries since pre-sales of the LS7 began in December last year. With the expansion of the carmaker's production capacity, deliveries of the IM LS7 have also continued to accelerate.
SAIC Motor's new EV model, MG4 Electric, was launched in European countries last year, receiving more than 10,000 orders per month.
According to official statistics, SAIC Motor sold 97,000 units in overseas markets last month, achieving a year-on-year growth rate of over 92 percent. Among them, nearly 30 percent of the carmaker's total sales in March were from NEVs, while sales of its self-owned brands accounted for more than 80 percent of its total sales during this period.
MG4 Electric, which is the first production model developed on SAIC Motor's dedicated electric MSP platform and the first model developed for global market, has been well received in Europe, where sales of the new model exceeded 10,000 units last month. The MG4 Electric will be available in more than 80 countries this year, with global sales expected to exceed 150,000 units.