SAIC Motor’s Jan.-Apr. NEV sales jump 35.37% YoY

Shanghai (Gasgoo)- In the fourth month of 2024, SAIC Motor sold 360,010 vehicles by wholesale, representing a year-on-year decline of 3.73%, according to its latest monthly sales results.

For the first four months of this year, the Shanghai-headquartered auto giant recorded a total sales volume of 1,194,163 vehicles, which slid 5.61% over a year earlier.

Of the vehicles sold last month, 74,590 units were contributed by the new energy vehicle (NEV) business, marking a 9.33% growth from the previous year. As for year-to-date performance, SAIC Motor's NEV sales amounted to 284,723 units for the Jan.-Apr. period, jumping 35.37% over a year ago.

In addition, SAIC Motor announced a volume of 92,061 vehicles for its Apr. overseas sales (including export volume and sales created by its overseas bases), indicating a 2.7% year-over-year growth. However, the group’s Jan.-Apr. overseas sales shrank 8.06% from the previous year to 318,736 units.

Breaking down the Apr. sales by specific subsidiaries, SAIC-GM-Wuling (“SGMW”) outsold others with a sales volume of 123,000 units, which jumped 16.81% compared to the same span in 2023. SAIC Volkswagen posted a 4.18% year-on-year growth in its Apr. sales, which reached 92,013 units. SAIC MOTOR Passenger Vehicle, the group’s wholly-owned passenger vehicle unit, faced a 7.24% year-on-year decrease with 63,315 vehicles sold last month. Moreover, SAIC-GM saw its Apr. sales tumble 37.92% from the year-ago period to 49,665 units.

Notably, IM Motors, the premium electric vehicle brand co-owned by Alibaba Group and Zhangjiang High-Tech, scored a 49.33% year-on-year surge in its Apr. deliveries, which stood at 3,000 units. As of Apr., there have been 13,001 vehicles under IM Motors delivered this year, marking a 125.16% soar year-over-year.