SAIC Motor achieves highest-ever annual new energy vehicle sales in 2024

Shanghai (Gasgoo)- SAIC Motor recently announced its annual wholesale volume reached 4,013,023 vehicles in 2024, representing a year-on-year decrease of 20.07%. In the same period, the group's full-year vehicle deliveries amounted to around 4.639 million units.

In the new energy vehicle (NEV) sector, SAIC Motor sold 1,234,075 vehicles by wholesale last year, indicating a year-on-year growth of 9.9% and hitting a new high level.

Meanwhile, SAIC Motor also reported a volume of 1,038,414 vehicles contributed by its export business and sales in overseas markets, displaying a decline of 14.06% from a year earlier.

Breaking down the annual sales by specific subsidiaries, SAIC-GM-Wuling and SAIC Volkswagen were the only two that sold over 1 million vehicles through 2024, both of which faced a single-digit year-on-year drop. IM Motors, the premium electric vehicle co-developed with Alibaba Group and Zhangjiang High-Tech, boasted the highest year-on-year growth at 71.24% with 65,503 vehicles sold.

As for monthly performance, SAIC Motor logged a wholesale volume of 483,030 vehicles in December 2024, representing a year-on-year decline of 24.17%, but posting a slight month-on-month growth of 0.89%. Of those, 154,091 units were contributed by the NEV sector, showing a 29.75% dip over a year earlier. In the same month, the group's export volume and overseas markets' sales amounted to 100,921 vehicles, sliding 28.59% from the year-ago period.

Among subsidiaries, SAIC-GM-Wuling still outperformed others in December by selling 179,557 vehicles, which fell 10.96% over the prior-year period. MG Motor India was the only one to score an upward momentum compared to the corresponding period in 2023.