SAIC Motor’s auto sales in Aug. rise 12.94% YoY, NEV sales up 48.15%

Shanghai (Gasgoo)- SAIC Motor announced today its auto sales reached 512,081 units in August 2022, rising 12.94% year on year, while also edging up 1.05% month on month.

Most subsidiaries of the group represented an upward movement year-over-year in Aug. sales. Of them, SAIC-GM-Wuling (“SGMW”) topped others with a sales volume of 145,100 units, which was 11.57% more than the year-ago level.

Both SAIC Volkswagen and SAIC-GM sold over 120,000 vehicles last month with a rising impetus from a year earlier. For Jan.-Aug. sales performance, SAIC Volkswagen gained a double-digit increase, but SAIC-GM failed to surpass itself over the prior-year period.

SAIC Motor Passenger Vehicle Company, the passenger vehicle unit wholly-owned by SAIC Motor, boasted a two-digit year-on-year growth of nearly 30% in both Aug. and Jan.-Aug. sales.

IM L7; photo credit: SAIC Motor

The sales of IM Motors, a premium electric vehicle maker backed by SAIC Motor, Alibaba Group, and Zhangjiang High-Tech, saw its monthly sales exceed 1,000 units last month, resulting in 2,058 units in its year-to-date sales.

For the first eight months of this year, the Shanghai-based auto group sold a total of 3,253,132 vehicles, indicating a 4.83% year-on-year growth.

The monthly sales data show that SAIC Motor's new energy vehicle (NEV) sales stood at 104,852 units in August, leaping 48.15% over the previous year. During the same month, the group saw its export volume and sales of overseas markets total 100,840 units, up 65.69% year over year.