SAIC Motor sees Feb. sales skyrocket 420.38% YoY

Shanghai (Gasgoo)- SAIC Motor boasted a marvelous hike of 420.38% year on year in Feb. by selling 246,476 units. The remarkable growth was mainly credited to the low year-ago base caused by the coronavirus pandemic.

Except SAIC GM Wuling Indonesia Co.,Ltd., the other subsidiaries all scored growth compared to the previous year. SAIC-GM was honored the No.1 in terms of the monthly sales, it is also the fastest-growing one. Both SAIC-GM-Wuling (SGMW) and SAIC Volkswagen (SAIC VW) recorded year-on-year surge of over 400% in Feb. sales.

RX5 MAX; photo credit: Roewe

SAIC Motor PV, the group's self-owned PV arm, saw its Feb. sales soar 276.55% from a year ago to 30,000 units. Due to the Spring Festival holiday, the PV maker posted a decrease of 47.6% from the previous month.

As for overseas business, MG Motor India sold 4,438 vehicles last month, a year-over-year increase of 94.48%.

With 649,557 vehicles sold, SAIC Motor gained a vigorous rise of 45.13% for the first two months of the year. SAIC GM Wuling Indonesia Co.,Ltd. was also the only subsidiary that logged decline.

Hongguang MINIEV; photo credit: SGMW

Regarding new energy vehicle (NEV) business, the group said its year-to-date NEV sales rocketed 596.8% to roughly 88,000 units.

SAIC Motor has poured tens of billions of yuan into the R&D of NEVs with a full-fledged deployment of all-electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs) and fuel cell vehicles (FCVs). In January, SGMW's Hongguang MINIEV overtook Tesla Model 3 as the world's most popular electric vehicle for the first time, according to the EV Sales blog. There are a number of BEV models of SAIC Motor expected for launch or sale this year, including SAIC VW's ID.4 X, ID.3 and ID.6 Xs, Roewe's all-new recreational vehicle as well as an all-electric sedan under the premium BEV brand “IM”.