SAIC Motor records fifth-consecutive-month YoY growth in Oct. 2020

Shanghai (Gasgoo)- SAIC Motor gained a 9.61% year-on-year growth in October with 596,719 new vehicles sold. Thanks to the fifth-consecutive-month increase, the decrease in year-to-date sales shrank to 15.09%.

SAIC-GM-Wuling (SGMW) was honored the No.1 subsidiary in terms of monthly sales for the third month in a row. It sold 179,000 vehicles last month, posting a robust 19.33% growth compared to the year-ago period.

According to SGMW, the Oct. sales of Wuling brand surged 50% over a year earlier to 131,655 units, and New Baojun saw its sales leap 29% month on month to 15,000 units.

The presale of the Wuling Victory four-seater MPV, the first flagship model bearing Wuling's global silver badge, kicked off on September 28. SGMW said the order number of the new MPV model has to-day exceeded 20,000 units and its cumulative sales topped 5,000 units.

Hongguang MINI EV; photo credit: SGMW

Notably, SGMW's new energy vehicle (NEV) sales reached 29,711 units last month, jumping 22% over a month ago. Of those, 23,762 units were the Hongguang MINI EVs, a month-on-month growth of 18%. Baojun New Energy witnessed its sales shoot up 64% from the previous month to 4,982 units.

Buick Envision; photo credit: Buick

SAIC-GM outsold SAIC Volkswagen for the second time this year. According to the joint venture, the wholesale volume of Buick vigorously grew 27% year on year to 99,057 units, a record-breaking monthly number for the past two years.

SAIC-Volkswagen dropped to the third place last month with a sales volume of 155,000 units. The Sino-German joint venture has not nabbed any year-on-year growth so far this year.

Roewe iMAX8; photo credit: Roewe

SAIC Motor PV, the subsidiary dedicated to selling vehicles under SAIC's self-owned brands—Roewe and MG, scored a 16.29% increase in October with 70,381 vehicles sold in total.

SAIC Motor said it sold over 49,000 NEVs in October, a precipitous year-on-year hike of 320%. For the first ten months, its NEV sales soared 42.5% to 193,000 units, more than 2019's full-year volume.