SAIC Motor records 2020’s first-time YoY sales growth

Shanghai (Gasgoo)- SAIC Motor sold 479,464 new vehicles in June, achieving a 2.77% year-on-year growth. This is also the first-time increase the Chinese biggest automaker gained in 2020.

Six of eleven subsidiaries recorded year-over-year sales growth last month, while the biggest two sales contributors—SAIC Volkswagen and SAIC-GM—were still mired in downturn. The two joint ventures saw their sales slide 6.97% and 6.79% over a year ago respectively.

Despite the continuous decline in monthly sales, the decrease in year-to-date sales further narrowed for both SAIC Volkswagen and SAIC-GM.

(New Baojun RS-5, photo source: SGMW)

The growth in SAIC's overall sales mainly stemmed from the rising performances made by SAIC-GM-Wuling (SGMW) and SAIC Maxus.

SGMW boasted an impressive 24% year-on-year growth in June with 124,000 vehicles sold. According to the joint venture, the sales of Wuling-branded vehicles soared 49% over a year ago to 94,807 units in June. Notably, the volumes of mini trucks and mini buses shot up 91% and 32% from the previous year respectively.

Besides, the New Baojun saw its June sales leap 52.9% month on month to 12,120 units. The sales of Baojun-branded NEVs amounted to 3,259 units, vigorously growing 32.7% from a month earlier.

(New MG6, photo source: SAIC MG)

SAIC Motor's self-owned PV subsidiary logged a 3.48% decrease in June. The automaker is ready to put the MG 6's fuel-burning version onto the market on July 10 and kick off the presale of its PHEV version at the same time.

Regarding the performance for the first half of the year, SAIC Maxus, SAIC-IVECO Hongyan Commercial Vehicle and Shanghai Sunwin Bus Corporation all posted growth compared to the year-ago period. Nonetheless, they failed to offset the downturn delivered by other subsidiaries due to their relatively small scale.

As of June, SAIC Motor has completed only 34% of its 6 million-unit annual sales target by selling 2,049,116 vehicles.