SAIC Motor’s Sept. auto sales rise month on month, but drop year on year

Shanghai (Gasgoo)- SAIC Motor recorded a monthly wholesale volume of 482,188 units in Sept. 2023, representing a month-on-month growth of 13.91%, but still facing a year-on-year decrease of 6.75%, according to the announcement the group issued today.

Notably, the month of September witnessed the highest auto sales SAIC Motor has so far achieved this year.

In terms of Sept. sales, the top 3 subsidiaries all posted a year-on-year drop. Of them, SAIC-GM-Wuling ("SGMW") sold the most vehicles, but faced the biggest decrease. SAIC Motor Passenger Vehicle Company attained a 23.37% year-over-year jump with 92,340 vehicles sold last month.

IM Motors, the standalone premium electric vehicle brand co-backed with Zhangjiang High-Tech and Alibaba, sold 1,805 vehicles in Sept., resulting in a year-to-date volume of 15,120 units.

For the first nine months of this year, SAIC Motor saw its cumulative auto sales fall 10.42% over a year ago to 3,377,352 units. Breaking down the sales figures, SGMW, SAIC Volkswagen, and SAIC-GM all posted a two-digit decline from the year-ago period.

Rising F7; photo credit: Rising Auto

SAIC Motor reported a new energy vehicle (NEV) sales volume of 93,527 units for Sept., which edged down 1.94% from a year earlier. For the Jan.-Sept. period, the group sold a total of 648,902 NEVs, reflecting a 7.1% drop year-over-year.

What's more, SAIC Motor saw its export volume and overseas market sales total 104,762 units last month, which shrank 3.32% over the previous year. However, these figures aggregated 837,902 units for the first three quarters of 2023 to display a 21.75% remarkable year-on-year jump.