SAIC Motor’s Feb. auto wholesales drop 6.41% YoY, but jump MoM

Shanghai (Gasgoo)- SAIC Motor announced on Thursday its monthly wholesales volume reached 301,342 vehicles in Feb. 2023, falling 6.41% from the previous year, but jumping 26.6% from the previous month.

In the same month, the Shanghai-based auto giant saw its terminal deliveries reach roughly 358,000 vehicles, which rose 16.8% over a month earlier.

Among subsidiaries, SAIC-GM-Wuling and SAIC Maxus was the only two to score a year-on-year growth in Feb. 2023 sales. SAIC Volkswagen ranked highest in terms of Feb. wholesale volume, but it still faced a two-digit year-over-year decline.

The premium electric vehicle unit IM Motors recorded a wholesale volume of 1,251 vehicles in Feb., which surged 146.75% over the previous month.

IM LS7; photo credit: IM Motors

IM Motors put its second production model and first SUV model, the IM LS7, onto the market on Feb. 10. Delivery of the model kicked off on Mar. 1.

For the first two months of 2023, SAIC Motor’s cumulative auto sales dwindled 30.63% from a year earlier to 539,365 units. MG Motor India was the only subsidiary to post an upward movement in year-to-date sales.

SAIC Motor’s new energy vehicle (NEV) sales amounted to 44,631 units last month, edging down 1.4% from the year-ago period. As of Feb. 2023, the auto group has sold 76,852 NEVs so far this year, indicating a 34.6% year-on-year plunge.

In addition, SAIC Motor noted that its Jan.-Feb. export volume and sales for overseas markets totaled 160,353 units (+31.94% YoY), 83,749 units (+49.26% YoY) of which were made in the month of Feb.