Shanghai (ZXZC)- SAIC Motor announced today it aims to sell 6 million vehicles across the year of 2023, including 1.5 million new energy vehicles (NEVs).

The Shanghai-based auto giant recorded a wholesale volume of 238,023 vehicles in the first month of 2023, representing a year-on-year decline of 47.75%, according to its latest sales results.

The Shanghai-based auto giant also said it had around 307,000 vehicles retailed last month.

Among subsidiaries, MG Motor India was the only one to score a year-over-year upward movement in Jan. sales, contributing to the rising sales of SAIC Motor’s overseas markets.

In the last month, SAIC Motor saw 76,604 vehicles exported and sold in its overseas markets, indicating a 17.08% jump year-over-year.

The group has set a 1.2 million vehicles of annual sales target for its overseas markets this year.

SAIC-GM-Wuling (“SGMW”), the manufacturer of the hotter-selling BEV model Wuling Hongguang MINIEV, witnessed its Jan. wholesales tumble 72.74% over a year earlier to 30,000 units, which dragged the company down to the 4th place among the group’s subsidiaries.

Third-generation MG6; photo credit: MG

SAIC Motor Passenger Vehicle Company (“SAIC Motor PV”), the self-owned passenger vehicle maker of SAIC Motor, faced the least year-on-year decline in Jan. sales.

IM Motor, the premium electric vehicle maker SAIC Motor co-builds with Alibaba Group and Zhangjiang High-Tech, sold 507 vehicles in Jan., versus the 455 units sold in Dec. 2022.

The group's data also show that its new energy vehicle (NEV) sector posted a 55.39% decrease in Jan. wholesales, which came in at 32,221 units.