SAIC Motor’s annual sales surpass 5 million vehicles in 2023, down 5.31% YoY

Shanghai (Gasgoo)- SAIC Motor announced on Wednesday that its auto sales reached 636,966 units in December 2023, which jumped 18.75% from the previous year, but were still lower than that of the same period in 2021.

As for the full-year performance, the Shanghai-based auto giant sold 5,020,865 vehicles through 2023, representing a 5.31% decline year-on-year (YoY).

Of the vehicles SAIC Motor sold last year, 1,122,908 units were new energy vehicles (NEVs), reflecting a 4.61% growth from a year earlier. In December alone, the group’s NEV sales amounted to 219,350 units, zooming up 53.16% over a year ago.

In addition, SAIC Motor reported a volume of 141,327 vehicles (+5.36% YoY) for the exports and overseas markets sales it recorded in December, resulting in an annual volume of 1,208,242 units (+18.75% YoY).

Breaking down the sales figures by specific subsidiaries, SAIC-GM-Wuling was the only one to sell over 201,666 vehicles last month, indicating a 4.16% YoY rise. However, its whole-year sales still dropped 12.31% from the same span of 2022. Both SAIC-Volkswagen and SAIC-GM posted a YoY decrease in their yearly sales, but scored a 2-digit YoY growth in December sales. SAIC Motor Passenger Vehicle Company, the passenger vehicle maker wholly-owned by SAIC Motor, witnessed its December sales soar 57.54% from a year ago, and also boasted a 17.5% YoY jump in its annual sales.

Notably, IM Motors, the premium electric vehicle brands co-owned with Alibaba Group and Zhangjiang High-tech, scored a splendid YoY surge of 2,188.35% with 10,412 vehicles delivered in December 2023, primarily thanks to the popularity of the mid-to-large SUV LS6, whose deliveries stood at 9,878 units in the month. The brand's annual sales reached 38,253 units last year, rocketing 665.06% year over year.