SAIC Motor scores two-digit YoY growth in May NEV, overseas sales

Shanghai (Gasgoo)- SAIC Motor announced today its monthly auto sales reached 363,591 units in May 2022, sliding 10.61% from the previous year.

For the first five months of this year, the Shanghai-based auto giant sold a total of 1,750,706 vehicles, indicating a 11.07% year-on-year drop.

The automaker said its new energy vehicle (“NEV”) and overseas businesses, and the subsidiary SAIC Motor Passenger Vehicle Company (“SAIC Motor PV”) all scored a two-digit year-on-year growth in May sales.

Last month, SAIC Motor PV sold 70,499 vehicles, representing a 33.02% year-on-year jump. Notably, the subsidiary’s global NEV sales exceeded 20,000 units in May, surging more than 90% from a year earlier.

3rd-generation Roewe RX5 rolling off line; photo credit: Roewe

With the third-generation Roewe RX5 rolling off the production line on June 1, SAIC Motor expects its self-owned PV brands to further strenthen their presence in the compact SUV market.

SAIC-GM ranked third among SAIC Motor's subsidiaries in terms of May sales. The Sino-U.S. joint venture saw its May sales climb 3.34% over a year earlier.

In May, SAIC Motor's NEV sales came at 71,658 units, shooting up 56.6% from the year-ago period. As for the year-to-date performance, the auto group sold a total of 301,451 NEVs by the end of May, up by 22.3% compared to the same span in 2021.

SAIC Motor also reported a 96.95% year-on-year spike in its May overseas sales, which stood at 86,078 units. In the Jan.-May period, the group recorded a total volume of 296,852 units for its exports and overseas markets' sales.