SAIC Motor sees Q1 sales grow, but posts YoY drop in March sales

Shanghai (Gasgoo)- SAIC Motor announced today its monthly vehicle wholesale volume dipped 10.11% from a year earlier to around 443,045 units in March 2022.

As for the sales of subsidiaries in March, SAIC-GM-Wuling (SGMW) was the best-performing one with its sales remaining flat over the year-ago period. Compared to the previous month, both SAIC Volkswagen and SAIC-GM dropped one spot to the second and third places, recording a year-on-year drop of 2.21% and 31.42% respectively.

MG ONE; photo credit: MG

SAIC Motor Passenger Vehicle Company (“SAIC Motor PV”), SAIC Motor's self-owned PV subsidiary, sold 62,212 vehicles last month, representing a 7.25% growth from a year ago. SAIC Maxus witnessed its wholesales dwindle 9.69% year on year to 17,708 units last month.

For the first three months of the year, the Shanghai-based auto group saw its vehicle wholesales climb 6.84% to 1,220,563 units. Notably, its first-quarter NEV sales jumped 27.7% to over 192,000 units, 26.7% of which were contributed by SAIC Motor’s self-owned brands.

SAIC Motor also boasted a 44.9% year-on-year surge in the Jan.-Mar. export and oversea sales volumes, which surpassed 172,000 units.

As for the headways made for premium EV brands last month, IM Motor unveiled the price of its first production model, the L7 Pro, while Rising Auto saw the first PPV (production process validation) prototype of the R7, the first flagship model of the brand after its independent operation, roll off the production line.