SAIC Motor boasts 19.53% YoY jump in Jan.-Nov. 2024 NEV wholesales

Shanghai (Gasgoo)- SAIC Motor recently announced on Monday that its monthly wholesale volume reached 478,767 vehicles in November 2024, sliding 7.06% over the previous year, but growing 19.13% over the previous month.

Of the vehicles sold last month, 174,869 units were contributed by new energy vehicles (NEVs), representing a year-on-year rise of 16.06%. In the same month, SAIC Motor reported a volume of 94,153 vehicles for its exports and overseas market sales, indicating a drop of 20.05% compared to the year-ago period. 

All-new IM LS6; photo credit: IM Motors

For the first eleven months of this year, SAIC Motor posted a year-on-year decline of 19.48% in its cumulative wholesales, which stood at 3,529,993 vehicles. Of those, its year-to-date NEV sales amounted to 1,079,984 units, which jumped 19.53% over a year earlier. In the same period, the group's export volume and overseas market sales totaled 937,493 units, falling 12.13% from the previous year.

Breaking down the November wholesales by specific subsidiaries, SAIC Volkswagen scored a year-on-year growth of 10.41% with 132,510 vehicles sold. Besides, SAIC-GM-Wuling, IM Motors, SAIC Motor-CP, and MG Motor India all attained a two-digit increase year-over-year. However, the sales of SAIC-GM, SAIC MOTOR Passenger Vehicle Company, and SAIC Maxus all shrank significantly from the prior-year period. SAIC-GM-Wuling Indonesia Co., Ltd. also saw its monthly wholesales dip 9.55% year over year.