SAIC Motor logs 8.41% YoY rise in Mar. 2024 auto sales

Shanghai (Gasgoo)- SAIC Motor released its latest monthly sales results on Monday, showcasing a year-on-year upward movement in Mar. sales, but still displaying a sliding trend in its year-to-date sales.

In Mar. 2024 alone, SAIC Motor saw its monthly sales rise 8.41% from a year earlier to 381,391 units. The vehicles sold last month include 84,816 new energy vehicles, which jumped 30% over the previous year. In the same time span, the group recorded a combined volume of 105,243 vehicles for its exports and sales in overseas markets.

Breaking down the Mar. sales by specific subsidiaries, SAIC-GM-Wuling outsold others with a sales volume of 114,009 units, which jumped 25.98% from the year-ago period. SAIC Volkswagen sold 90,003 vehicles, indicating an 11.09% growth year-on-year. SAIC Motor-CP boasted the highest year-on-year growth (+108.17% YoY) in its Mar. sales, which stood at 2,294 units. IM Motors, the premium electric vehicle brand co-owned with Alibaba Group and Zhangjiang High-Tech, scored a 49.48% year-on-year spike with 3,000 vehicles sold. However, SAIC Motor Passenger Vehicle Company, SAIC-GM, MG Motor India, and SAIC GM Wuling Indonesia Co., Ltd. all faced a year-on-year downward movement.

For the first quarter of 2024 (Q1 2024), SAIC Motor witnessed its cumulative sales dwindle 6.4% from the prior-year period to 834,153 units, which contained 210,133 NEVs (+47.88% YoY). Nevertheless, the year-to-date figures of its export business and overseas markets’ sales shrank 11.82% over a year ago to 226,675 units.