Industry dynamics

SAIC Motor reports sliding sales for first ten months

Publishtime:1970-01-01 08:00:00 Views:32

Shanghai (ZXZC)- SAIC Motor has been suffering year-on-year sales drop for 14 consecutive months as of October, 2019.

The Chinese biggest automaker said its Oct. auto sales fell 9.55% from a year ago to 544,391 units. Meanwhile, the total sales volume for the first ten months of the year represented a double-digit growth.

SAIC Motor reports sliding sales for first ten months

All top three subsidiaries by monthly sales posted year-over-year decrease in both Oct. sales and year-to-date sales.

The champion SAIC Volkswagen clocked a 6.39% decline in Oct. sales, versus 5.8% drop for September. The joint venture with Volkswagen Group was the runner-up among China's automakers by the Oct. wholesale volume of locally-produced PVs, according to the China Passenger Car Association (CPCA).

On November 11, SAIC Volkswagen formally launched an all-new manufacturing plant purely built for the production of all-electric vehicles based on Volkswagen's MEB (Modular Electric Drive Matrix) platform.

SAIC Motor reports sliding sales for first ten months

(Photo source: SAIC Volkswagen)

Meanwhile, a first China-specific all-electric Volkswagen ID. series model rolled off the production line at the newly-launched plant, setting a milestone in Volkswagen Group China's e-mobility strategy.

SAIC Motor reports sliding sales for first ten months

(Photo source: Cadillac's WeChat account)

SAIC-GM faced double-digit decline in both Oct. sales and year-to-date sales. The joint venture offered the first glimpse of the Cadillac CT4 in late October, which is scheduled to hit the market next year.

SAIC Motor reports sliding sales for first ten months

(Photo source: Roewe)

Besides, the group said the Oct. sales of its self-owned PV unit, SAIC Motor PV, edged up 0.86%, showing year-on-year increase for the fourth month in a row. Of that, Roewe and MG brands sold roughly 35,700 units and 24,700 units respectively.

For the first ten months, SAIC Motor PV sold 532,287 vehicles in total, completing 75.8% of its 702,000-unit annual sales target. Cumulative sales volume of the Roewe i5 nearly reached 100,000 units so far this year.