SAIC Group Profits Most Among all Domestic Auto Groups

SAIC Group released its 2017 semi-annual report on the night of August 29th, showing that the group has total operating revenue of RMB 396.41b with year-on-year growth of 12.85%. The net profit grows 5.96% to RMB 15.96b, exceeding the total of Dongfeng Group and GAC Group and ranking first among all listed domestic auto companies.

The report shows that SAIC Group sells 3.18m units in the first half of year with year-on-year growth of 5.8%, occupying 23% of the domestic market. Passenger vehicles are sold 2.76m units, growing 7.7% compared with the same period of last year. Commercial vehicles are sold 415,000 units, decreasing 5.8% year-on-year. The company has a total exported volume and overseas sales volume of 64,000 units, growing 44.4% year-on-year. The exporting volume of vehicles continues to rank first among all domestic auto companies.

It’s remarkable that self-independent brands have outstanding performances. SAIC passenger vehicles sell 233,600 units in the first half of year with year-on-year growth of 112.99%. SAIC Maxus increases 30% in sales volume with the number exceeding 28,000 units. SAIC Group continues to research on alternative energy vehicles and Internet vehicles by launching PHEV eRX5, BEV ERX5, Internet Car i6, PHEV ei6 and MG’s first Internet SUV ZS.

However, the performance of its two joint-venture companies SAIC Volkswagen and SAIC GM are not so well, with SAIC Volkswagen selling 970,000 units and SAIC GM selling 867,400 units in the first half of year.