SAIC Motor reports sliding sales for first ten months

Shanghai (Gasgoo)- SAIC Motor has been suffering year-on-year sales drop for 14 consecutive months as of October, 2019.

The Chinese biggest automaker said its Oct. auto sales fell 9.55% from a year ago to 544,391 units. Meanwhile, the total sales volume for the first ten months of the year represented a double-digit growth.

All top three subsidiaries by monthly sales posted year-over-year decrease in both Oct. sales and year-to-date sales.

The champion SAIC Volkswagen clocked a 6.39% decline in Oct. sales, versus 5.8% drop for September. The joint venture with Volkswagen Group was the runner-up among China's automakers by the Oct. wholesale volume of locally-produced PVs, according to the China Passenger Car Association (CPCA).

On November 11, SAIC Volkswagen formally launched an all-new manufacturing plant purely built for the production of all-electric vehicles based on Volkswagen's MEB (Modular Electric Drive Matrix) platform.

(Photo source: SAIC Volkswagen)

Meanwhile, a first China-specific all-electric Volkswagen ID. series model rolled off the production line at the newly-launched plant, setting a milestone in Volkswagen Group China's e-mobility strategy.

(Photo source: Cadillac's WeChat account)

SAIC-GM faced double-digit decline in both Oct. sales and year-to-date sales. The joint venture offered the first glimpse of the Cadillac CT4 in late October, which is scheduled to hit the market next year.

（Photo source: Roewe)

Besides, the group said the Oct. sales of its self-owned PV unit, SAIC Motor PV, edged up 0.86%, showing year-on-year increase for the fourth month in a row. Of that, Roewe and MG brands sold roughly 35,700 units and 24,700 units respectively.

For the first ten months, SAIC Motor PV sold 532,287 vehicles in total, completing 75.8% of its 702,000-unit annual sales target. Cumulative sales volume of the Roewe i5 nearly reached 100,000 units so far this year.