SHERIDAN, WYOMING – July 16, 2024 – SAIC Motor Corporation Limited (SAIC Motor), China's leading automotive manufacturer, today announced robust sales figures for April 2024, highlighting its continued dominance in the domestic market and accelerated expansion in international territories. The company's strong performance is attributed to a diversified brand portfolio, substantial growth in new energy vehicle (NEV) sales, and strategic investments in global markets.
In April, SAIC Motor achieved a significant milestone by selling 360,000 vehicles, reaffirming its position as a frontrunner in the Chinese automotive industry. Sales of self-owned brands reached 216,000 units, constituting over 60% of total sales and underscoring the rising popularity and acceptance of these brands among Chinese consumers.
Notably, SAIC Motor's commitment to sustainable mobility solutions is yielding substantial results, as demonstrated by the remarkable growth in NEV sales. The company sold 75,000 NEVs in April, a 9.3% year-on-year increase, with cumulative NEV sales from January to April reaching 285,000 units, up 35.4% year-on-year. This impressive growth firmly establishes SAIC Motor as a key player in China's rapidly evolving NEV market.
The company's international expansion strategy continues to gain traction, with overseas sales in April reaching 92,000 units, a 2.7% year-on-year increase. This growth is attributed to strong performances by the MG brand in the European market, where it sold over 60,000 vehicles in the first four months of 2024.
To further solidify its global presence, SAIC Motor has appointed Jozef Kabaň, a world-renowned automotive designer with extensive experience at prestigious brands like Bugatti, Audi, BMW, Rolls Royce, and Volkswagen, as the Global Design Vice President at the SAIC Motor R&D Innovation Headquarter (SRIH). Kabaň's appointment is expected to elevate the company's design capabilities and enhance its international appeal.
The strategic sponsorship of the 2024 Goodwood Festival of Speed, a globally recognized automotive event, by MG Motor, further demonstrates SAIC Motor's commitment to strengthening its brand image and expanding its reach in international markets.
SAIC Motor's impressive sales figures, strategic expansion, and focus on new energy vehicles signal a promising trajectory for the company's future growth. As the global automotive industry increasingly shifts towards electrification and sustainability, SAIC Motor is well-positioned to capitalize on these trends and maintain its leadership position in the dynamic and evolving automotive landscape.