SAIC Motor posts net profit of 2.71 billion yuan in Q1 2024

Beijing (Gasgoo)- On April 29, SAIC Motor released its first-quarter report for 2024, showcasing steady progress despite challenges like intensified price wars in the Chinese automotive industry.

In the first quarter of this year, the automaker achieved a total operating income of 143.07 billion yuan and a net profit of 2.71 billion yuan attributable to shareholders, demonstrating robust economic performance.

From January to March of 2024, SAIC Motor's deliveries reached 1.132 million vehicles, up 9.3% year on year. SAIC Motor's new energy vehicle sales soared 47.9% from the same period last year, exceeding 210,000 units. Among which, 168,000 units were sold domestically, up 117.5% year on year.

Sales in overseas markets also witnessed growth, with deliveries increasing 21.3% year on year to 269,000 units in the first quarter. SAIC Motor's top ten overseas markets in the period included the UK (26,000 units), Australia (17,000 units), and Italy (13,000 units), showcasing a continuously optimized sales structure.

At the ongoing Auto China 2024 in Beijing, the highly anticipated smart sedan IM L6 from IM Motors made its debut, featuring industry-leading technologies such as the agile digital chassis, Lightyear solid-state battery, IMOS 3.0 intelligent cockpit system, and SUV-like multifunctional intelligent space.

With over 21,000 units of cumulative orders, the official pricing for the IM L6 has not yet been announced, but its popularity is evident. Other notable vehicles showcased alongside the IM L6 include the Roewe D5X DMH, the Tiguan L Pro, the Cadillac IQ OPTIQ, Buick's new GL8 PHEV, Chevrolet's Trailblazer Plus, and the all-electric Wuling Xingguang, all poised to boost SAIC Motor's overall vehicle sales in the coming months.