SAIC Motor attains 32.19% YoY jump in Oct. 2022 NEV sales

Shanghai (Gasgoo)- SAIC Motor announced today its auto sales reached 503,308 units in Oct. 2022, sliding 13.54% and 2.67% compared to the year-ago and month-ago periods, respectively. 

The group's new energy vehicle (NEV) sales stood at 101,768 units in October, leaping 32.19% over the previous year. During the same month, the group saw its export volume and sales of overseas markets total 84,075 units, down 3.31% year over year.

For the first ten months of this year, the Shanghai-based auto giant sold 4,273,532 vehicles in total, representing a slight growth of 1.72% compared to the same span of 2021.

Among the group's subsidiaries, SAIC-GM-Wuling ("SGMW") outsold others in October with a sales volume of 160,000 units, facing a 20% year-on-year decrease.

Both SAIC Volkswagen and SAIC-GM recorded a sales volume of over 100,000 units last month, but the latter failed to gain a year-on-year rise.

SAIC Motor Passenger Vehicle Company ("SAIC Motor PV") saw its Oct. sales plunge 32.06% over a year earlier, but its year-to-date sales still jumped 14.07%.

SAIC Maxus' monthly sales ticked up 2.8% year over year to 17,545 units in October, resulting in a Jan.-Oct. sales volume of 169,652 units (-6.16% YoY).

IM L7; photo creditL IM Motors

The sales of IM Motors, a premium electric vehicle maker backed by SAIC Motor, Alibaba Group, and Zhangjiang High-Tech, saw its monthly sales reach 860 units in October, dipping 15.6% over a month ago and resulting in 3,937 units in its year-to-date sales.