SHERIDAN, WYOMING – July 16, 2024 – SAIC Motor Corporation Limited, a global automotive leader, today announced robust sales figures for May 2024, further solidifying its position as an industry frontrunner. The company reported wholesale sales of 332,000 units and customer deliveries of 347,000 units, demonstrating continued growth and market dominance.
Strategic Focus Fuels Growth:
SAIC Motor's exceptional performance is attributed to its strategic focus on three key areas: self-owned brands, new energy vehicles (NEVs), and overseas markets. These pillars of growth have propelled the company to new heights, with May terminal deliveries of self-owned brands accounting for 60.8% of total sales, reaching 210,000 units. The company's dedication to NEVs is evident in its impressive 27.4% year-on-year growth, with 97,000 units delivered in May alone. Additionally, SAIC Motor's overseas market presence continues to expand, with 99,000 units delivered in May, a 20.1% year-on-year increase.
New Energy Vehicles (NEVs) Drive Innovation:
SAIC Motor's unwavering commitment to NEVs has translated into significant market gains. In the first five months of 2024, the company delivered a total of 433,000 NEVs, a remarkable 33.4% increase compared to the same period in 2023. This success is further highlighted by the remarkable performance of SAIC IM Motors, which achieved a 75.2% year-on-year growth in May. The recently launched IM L6 model has already secured over 10,000 orders, signaling strong consumer demand for SAIC Motor's innovative NEV offerings.
Global Expansion and European Market Success:
SAIC Motor's global expansion strategy continues to gain momentum, with overseas markets playing a crucial role in the company's growth. The 99,000 units delivered in May represent a significant 20.1% year-on-year increase. From January to May, SAIC Motor achieved a 17.8% year-on-year increase in overseas deliveries, totaling 460,000 units. The MG brand, in particular, has experienced exceptional success in Europe, with over 100,000 units delivered in the first five months of 2024, setting a new record for the brand.
Technological Innovation as a Cornerstone:
SAIC Motor's dedication to technological innovation was showcased at the "China NEV in 10 Years – SAIC Motor New Energy Technology Conference" held on May 24th. The company unveiled its new generation of "Seven Major Technological Foundations," encompassing cutting-edge intelligent electric technologies that are poised to redefine the future of mobility.
The company's roadmap includes the mass production of all-solid-state batteries by 2026, with an energy density exceeding 400 Wh/kg, improved safety, and enhanced low-temperature performance. Additionally, the Modular Scalable Platform is set to revolutionize energy efficiency in pure electric vehicles, aiming to exceed industry benchmarks.
A Bright Future Ahead:
SAIC Motor's exceptional sales figures, coupled with its strategic focus on self-owned brands, NEVs, and overseas markets, position the company for continued success. With a clear emphasis on technological innovation and a commitment to sustainable mobility solutions, SAIC Motor is poised to lead the automotive industry into a new era of growth and transformation.
About SAIC Motor:
SAIC Motor Corporation Limited is a leading global automotive manufacturer headquartered in Shanghai, China. With a diverse portfolio of brands, innovative technologies, and a strong commitment to sustainability, SAIC Motor is dedicated to providing mobility solutions that enhance the lives of people around the world.