• 30.10.2024

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Auto news from China

SAIC Motor Reports Strong Q3: 29.5% Rise in New Energy Vehicle Sales

Oct 30, 2024

On October 30, SAIC Motor Corporation released its third-quarter performance report. The report shows that in the first three quarters of this year, the company achieved a total revenue of 430.48 billion yuan and a net profit of 6.91 billion yuan attributable to shareholders.

SAIC Motor Reports Strong Q3: 29.5% Rise in New Energy Vehicle Sales

In the first three quarters of this year, SAIC Motor sold 2.65 million vehicles. Retail sales reached 3.23 million. The company delivered 886,000 new energy vehicles, a 29.5% increase year-on-year. Overseas deliveries hit 806,000, up 5.5%. Notably, since the second half of this year, SAIC’s deliveries have increased for three consecutive months. Sales of its own and joint venture brands have risen. The government’s “trade-in” subsidy policy has further boosted vehicle production and sales. Recently, SAIC President Jia Jianxu’s internal speech sparked industry discussion. Observers believe SAIC is ready to confront challenges. The company aims to maintain competitiveness and regain market share.

SAIC Motor Reports Strong Q3: 29.5% Rise in New Energy Vehicle Sales

By the end of this year, SAIC Motor will launch several new energy vehicles under the Roewe and MG brands. These will include sedans, MPVs, and SUVs. SAIC Group aims to seize market opportunities and accelerate efforts. They will fully commit to a strong finish this year.