Gasgoo Munich- SAIC Motor announced on May 22 that it is set to deliver to its 100 millionth global customer by the end of this month. The milestone marks the first time a Chinese automaker has surpassed 100 million units in cumulative production and sales.
Image source: SAIC Motor
On April 29, SAIC Motor released its first-quarter report. The company navigated headwinds such as market adjustments and rising raw material costs to deliver a strong start to the year.
From January to March, the company moved 973,000 vehicles at the wholesale level — a 3% annual increase that kept it atop the domestic market. It stood alone as the only Chinese automaker to breach the 1 million mark in retail sales for the quarter. Revenue climbed 0.61% to 138.52 billion yuan, while net profit attributable to listed shareholders edged up 0.09% to 3.03 billion yuan. Net cash flow from operating activities surged 699.67% to 31.99 billion yuan. Even as supply and demand faced significant pressure, SAIC drove steady progress by deepening reforms, prioritizing innovation, and boosting management efficiency.
SAIC Passenger Vehicles sales surged 40.4% year-on-year in the first quarter, while IM Motors sales jumped 96.9% and SAIC Maxus climbed 14.3%. A string of hits emerged in the proprietary new energy sector: the MG4 surpassed 10,000 monthly sales for six straight months; the IM LS8 racked up 8,000 orders within an hour of launch; and the SAIC Z7 secured 12,000 orders in just 27 minutes. Overseas markets also charged ahead, with sales reaching 325,000 units in the first quarter — a 48.3% increase. In Europe alone, sales hit 90,000 units, up 20%.
