Shanghai (ZXZC)- China's largest automaker SAIC Motor expects its overseas auto sales to reach 1 million units by 2025, according to a senior executive of the company, as more automakers are seeking growth in global businesses amid the slowdown in domestic market.

Besides, the group's overseas sales would hit 350,000 units this year, and it aims to sell more than 500 thousand units by 2020 and 600 thousand units by 2022, Yu De, deputy president of SAIC, told local reporters.

（Photo source: SAIC Motor)

SAIC Motor has been honored the No.1 Chinese automaker by annual overseas auto sales for three straight years, according Mr. Yu. For the first three quarters of 2019, the Shanghai-based automaker took up around one third of China's total overseas sales with roughly 240,000 vehicles exported and sold outside China.

Reportedly, the Chinese auto giant has got seven foreign markets, including Thailand, the UK, Indonesia, Chile, Australia & New Zealand, GCC region and India, where SAIC sold over 10,000 vehicles there annually. Notably, it took the auto group only four months to break the threshold of 10,000 units in Indian market.

(Photo source: SAIC Motor)

SAIC Motor has also operated three overseas production bases in India, Indonesia and Thailand with respective capacities of 80,000 units, 120,000 units and 100,000 units on an annual basis. The Indian base just started operation in late April of the year.

The company said in its semi-annual financial report that it was going to foster new growth drivers in NEV and international businesses on the basis of a stable sales performance. Nonetheless, SAIC Motor trailed behind the overall market in terms of the year-on-year change in both Oct. sales and Jan.-Oct. sales.