SAIC Motor expects annual CV unit revenue to top 100 billion yuan by 2025

Shanghai (Gasgoo)- SAIC Motor said on Sept. 23 it aims to gain over 100 billion yuan ($15.463 billion) of annual revenue from its commercial vehicle (CV) business by 2025, as part of the development plan the automaker sets for its CV unit arm in the 14th Five-Year Plan period (2021-2025).

SAIC Hongyan Genlvon truck; photo credit: SAIC Hongyan

Under the plan, SAIC Motor expects its annual CV sales in 2025 to double over the year of 2020, the last year for the 13th Five-Year Plan. By that time, 25% of CV sales would be from overseas markets and new energy vehicles (NEVs) would account for 38% of the group's total CV sales. Besides, the install rate of intelligent-connected in-car systems is expected to reach 60%.

During the 13th Five-Year Plan period (2016-2020), SAIC Motor fulfilled a CV product layout, which covers wide-body lights buses, full-/medium-sized MPVs, heavy-/light-duty trucks, non-load-bearing/load-bearing medium-sized SUVs, and recreational vehicles. Besides, it built a CV technology center staffed by around 3,000 employees, 1,000 and 500 of which were enlisted for software and new energy technology development respectively.

SAIC Motor said the annual sales of its CV arm in 2020 surged 146% compared to 2015 (the last year for the 12th Five-Year Plan), 90% of the sales were contributed by its self-owned brands. In the meantime, the CV unit also boasted a 178% spike in annual revenue from the 5-year-ago period.

From 2016 to 2020, SAIC Motor sold CVs and offered relevant services to more than 50 countries and regions with Australia & New Zealand, Europe, the ASEAN (Association of Southeast Asian Nations), America, and the Middle East as the five core markets. Notably, cumulative sales in European developed countries surpassed 10,000 units during the five years, while the combined sales in the markets of Australia and New Zealand topped 10,000 units annually.