Gasgoo Munich-SERES' latest production and sales report shows total sales hit 37,167 units in April, down 4.18% from a year earlier. New-energy vehicle sales, however, climbed 5.22% to 33,132 units.
Image source: SERES Auto
For the first four months of the year, SERES sold 123,900 vehicles — a 15.4% increase from the same period last year. New-energy vehicles accounted for more than 112,400 of that total, surging 24.21% year-on-year.
According to the company's previously released 2025 financial report, annual revenue reached 164.89 billion CNY, up 13.63% — a pace that outstripped the growth in new-energy vehicle sales for the year. Last year, total NEV sales stood at 472,300 units, a 10.63% gain. The average transaction price rose from 377,000 CNY to 391,000 CNY, capturing over 20% of the premium new-energy SUV market. The AITO M7, M8, and M9 models were standout performers, with a new M6 planned for the future.
On the research front, SERES invested 12.51 billion CNY in 2025, a 77.4% surge, with R&D expenses specifically rising 42.4% to 7.95 billion CNY. The company's R&D headcount grew to 9,019 people, up 45.44% year-on-year, representing 41.1% of the total workforce.
Analysts note that while SERES faces pressure in the traditional fuel vehicle sector, the rapid ascent of its new-energy business is compensating for that weakness.
