SAIC Motor’s sales in June dip 31.46% year on year

Shanghai (Gasgoo)- SAIC Motor's new vehicle outputs and wholesales rose 17.42% and 12.11% year on year to 2,339,258 units and 2,297,285 units respectively for the first half of 2021, according to the company's announcement. However, partly due to chip shortage, the Shanghai-based automaker still faced over 30% year-over-year drop in both June production and wholesale volumes.

At the latest annual shareholder meeting held on June 30, SAIC Motor's Chairman Chen Hong said the chip shortage, a problem facing the entire auto industry, is expected to be alleviated in late July, and chip supply will basically return to normal in the third or the fourth quarter.

Mr. Chen didn't provide additional details on chip inventories at SAIC's subsidiaries or joint ventures.

In terms of June wholesales, the top 3 subsidiaries, namely SAIC-GM-Wuling, SAIC-GM, and SAIC Volkswagen, all posted double-digit year-on-year decline. SAIC Volkswagen recorded a decrease of up to 54.63%.

Despite the slight decline in June sales, SAIC Motor PV still scored 23.97% robust growth for the first six months.

As of retail sales, SAIC Motor said its auto deliveries amounted to 2.946 million units in the Jan.-Jun. sales, jumping 29.7% over the year-ago period. The semi-annual new energy vehicle deliveries reached 280,000 units.