Gasgoo Munich- On July 1, SAIC Motor released its half-year report. Sales reached 395,000 units in June, up 8.1% year-on-year. First-half sales totaled 2.045 million units, ranking it as the only Chinese automaker to surpass 2 million units in this period.
In 2026, as the price war intensifies and the NEV penetration rate exceeds 50%, the significance of these figures lies in the structural shift rather than total volume. Self-owned brands accounted for 71.8% of the mix, NEV sales reached 796,000 units, and overseas volume hit 735,000 units. The traditional joint-venture foundation remains, but a new growth engine has become the primary driver.
Essentially, SAIC Motor has shifted its growth momentum over the past six months.
Self-owned Brands Account for 70% Share, JVs Still Adjusting
SAIC's self-owned brands sold 1.469 million units in the first half, up 12.6% year-on-year, accounting for 71.8% of the group total. This represents an 8.3 percentage point increase from last year. Two years ago, such figures were difficult to foresee, when SAIC was still dominated by joint ventures. Now, self-owned brands not only exceed 70% but have also achieved six consecutive months of year-on-year growth.
By sector, SAIC MOTOR Passenger Vehicle sold 115,000 units in June, an 82.5% increase. This brought its first-half total to 549,000 units, a 49.4% rise.
IM Motors sold 40,000 units in the first half, up 107%. While absolute volume is not significant, given the brand's mid-to-high-end pure-electric positioning, this growth indicates its product lineup is receiving market recognition.
Image Source: SAIC Motor
SAIC Maxus sold 138,000 units in the first half, up 29.1%. SAIC-GM-Wuling (SGMW) sold 681,000 units, solidifying its market position. SGMW retains volume, but growth of just 2.5% indicates significant pressure in the mass market.
The joint-venture sector presents a different scenario. SAIC Volkswagen sold 59,951 units in June, down 35.36%, while SAIC General Motors sold 38,430 units, an 18.24% decline. Combined, the two joint ventures sold fewer than 100,000 units for the month. However, the trend is not uniformly downward, as new energy vehicles are beginning to show growth.
SAIC GM sold nearly 50,000 NEVs in the first half, up 81.1%. Volkswagen's ID. ERA 9X exceeded 10,000 deliveries in its first two months, while the Audi E7X delivered over 4,000 units in its first month.
The internal combustion engine base is shrinking, but electrified products are offsetting the decline. The logic for joint-venture transformation has reversed. It is no longer foreign partners providing technology and Chinese partners providing the market. Now, the Chinese side exports smart electric technology, while foreign partners contribute the brand and global experience. The effectiveness of this model will become clearer in the second half.
NEVs and Overseas Markets Drive Dual Growth
New energy was a key highlight for SAIC in the first half. Monthly NEV sales reached 201,000 units in June, a 66.6% increase. This brought the half-year total to 796,000 units, up 23.1%. The NEV penetration rate exceeded 50% in June, meaning half of the vehicles SAIC sells are now electrified.
Self-owned brands are the primary drivers here. SAIC MOTOR Passenger Vehicle's NEV sales rose 218.1% to 239,000 units in the first half. The MG4 family delivered over 18,000 units in June, representing its ninth consecutive month above 10,000 sales. The Shangjie Z7/Z7T also exceeded 10,000 monthly deliveries.
Wuling's NEV volume reached 343,000 units, with the Binguo Pro selling 30,000 units in 38 days. All 40,000 of IM's sales were NEVs. The self-owned NEV matrix now spans from A-segment to full-size vehicles, and from pure electric to extended-range and plug-in hybrids.
Image Source: SAIC
Overseas sales are also increasing. SAIC sold 146,000 units abroad in June, a 61.2% year-on-year surge. This brought the half-year total to 735,000 units, up 48.7%. In Europe, SAIC's largest overseas market, the MG brand has maintained its position as the top-selling Chinese brand for eleven consecutive years. First-half sales there exceeded 190,000 units, a rise of over 20%, as the brand moves toward a full-year target of 400,000 units.
These two areas—NEVs and overseas sales—are not isolated. The vehicles selling abroad are mostly new energy vehicles, and NEV growth in turn supports overseas expansion. SAIC has successfully integrated the two.
Challenges remain. First-half sales of 2.045 million units represent a slight decline of 0.35%. Despite winning the half-year title, total volume did not grow.
The internal combustion engine base is declining. While NEVs and overseas sales are growing rapidly, they require time to fully offset the loss from ICE vehicles. The joint-venture sector's transformation has just begun, and there is significant uncertainty regarding whether Volkswagen and GM can gain traction in the NEV race.
2.045 million is a solid figure, but the structure is more significant. Self-owned brands account for 70%, NEVs for 40%, and overseas markets contribute over one-third. SAIC is evolving from a company driven by joint ventures into one supported by self-owned brands, new energy, and overseas expansion.
The half-year title is secured, but the second half presents the real test.
