SAIC Motor displays a stellar performance so far, will it continue this trend for all of 2024?
SAIC Motor has once again solidified its position at the forefront of the Chinese automotive industry, as highlighted by its impressive performance in the first half of the year. According to the company’s production and sales report released on July 5, SAIC Motor delivered a remarkable 2.12 million vehicles from January to June 2024.
This success is driven by what SAIC Motor refers to as the “New Triad of Growth Drivers,” which includes self-owned brands, new energy vehicles (NEVs), and overseas markets. Notably, self-owned brands delivered 1.26 million units, accounting for 59 percent of the company’s total sales.
Moreover, NEVs have shown impressive growth, with deliveries reaching 522,000 units, marking a substantial year-on-year increase of 29.5 percent. Additionally, overseas market sales soared to 554,000 units, representing a 13.9 percent increase compared to the previous year.
SAIC Motor’s commitment to NEVs is evident in the dramatic increase in annual sales since 2018. Sales of NEVs have surged from 142,000 units to 1.12 million units, a remarkable seven-fold rise, positioning the company among the global leaders in NEV sales.
Similarly, annual sales to international markets have more than tripled, rising from 277,000 units to 1.2 million units, underscoring SAIC Motor’s dominance among Chinese car manufacturers in overseas sales. The company’s success in international markets is particularly notable.
On top of that, in the first half of 2024, SAIC Motor’s deliveries to overseas markets hit 554,000 units, continuing its lead among Chinese automakers with a year-on-year growth of 13.9 percent. In Europe, SAIC Motor’s MG brand has made significant strides, surpassing Tesla to secure a spot among the top 20 best-selling brands.
In a recent accolade, the MG4, MG’s all-electric hatchback, has also been honoured as the ‘Best Used EV’ at the 2024 Automotive Management (AM) Awards. This award, decided by AM readers and a panel of industry experts, recognizes the MG4’s exceptional performance, reliability, and strong residual value since its launch in 2022.
What’s more, the MG4 has achieved over 30,000 sales in the UK, with the MG4 Lux Extended Range offering an impressive 520km of WLTP driving range. Meanwhile, the MG4 XPOWER model delivers high performance with its all-wheel drive system, reviving MG’s rich sporting heritage in the electric vehicle arena.
