SAIC Motor reports 30.6% growth in Feb

SAIC Motor, Chinas largest automaker, sold 322,000 vehicles in February, up 30.6 percent year-on-year, according to statistics released on March 4 by the company.

Self-branded car sales, new energy vehicles (NEVs), and vehicle exports all grew at a rapid pace in February, according to statistics.

According to official data, sales of SAIC Motor’s self-owned brands doubled in February. SAIC Motor Passenger Vehicle Company sold 64,000 vehicles, up 113.4 percent year-on-year, including more than 9,000 NEVs. Sales of its Maxus increased by 30.9 percent year-on-year to nearly 13,000 vehicles.

IM, an electric car startup by SAIC Motor, saw its first L7 Beta version roll off the assembly line in late 2021, and is expected to hit the market soon. The carmaker established the SAIC Motor R&D Innovation Headquarters earlier this month. It will gather the group’s superior resources and build an independent R&D team of more than 10,000 members to expand innovation, which will enhance the group’s R&D capability and promote the industrialization of NEVs and intelligent connected vehicles, enabling the high-quality development of SAIC Motor’s self-owned brands.

Sales of NEVs continued to soar, with more than 45,000 vehicles sold in February, increasing by 48.4 percent year-on-year. SAIC Motor continued to occupy an absolute dominant position in the domestic NEV market. SAIC-GM-Wulings Hongguang MINI EV also maintained sharp growth in sales. More than 9,000 NEVs were sold by SAIC Motor Passenger Vehicle Company.

SAIC Motor’s overseas markets were extremely hot in February, with its total sales volume exceeding 56,000 vehicles, up 69.3 percent year-on-year. The sales of MG NEVs in Europe also doubled. This year, with the launch of a slew of futuristic NEVs such as the global model MG EH32, SAIC Motor will see surging growth in the European market, and its self-owned brands are expected to sell 120,000 vehicles in Europe, which will become the first overseas market where its annual sales will exceed 100,000 units.