SAIC Motor’s May NEV sales rise 9.18% YoY

Beijing (Gasgoo)- In May 2024, SAIC Motor reported a monthly sales volume of 332,246 vehicles, marking a 17.10% year-on-year decline. Among which, 82,882 units were new energy vehicles (NEVs), rising 9.18% from a year ago, according to the company’s report released June 7. 

In addition, SAIC Motor moved 87,909 vehicles overseas in May (including export volume and sales created by its overseas bases), representing a 4.2% year-over-year dip.

In the first five months of this year, SAIC Motor’s cumulative sales amounted to 1,526,409 units, down 8.37% year on year.

Among SAIC Motor’s sub-brands, IM Motors, the premium electric vehicle brand co-owned by SAIC with Alibaba Group and Zhangjiang High-Tech, saw its May sales volume soar 111.6% from a year ago to 4,251 units. The brand’s new IM L6 model, which garnered over 10,000 units of fixed orders so far, has kicked off large-scale deliveries starting May 25.

Photo credit: IM Motors

Meanwhile, SAIC-GM-Wuling achieved a 5.17% year-on-year uptick in May sales, which came in at 116,000 units.

On the other hand, SAIC-GM experienced the steepest drop last month, with sales plummeting 58.27% compared to May 2023 to 38,393 units. Similarly, SAIC MOTOR Passenger Vehicle Company saw a 26.15% year-on-year decrease, which dropped to 54,418 units in May.