Shanghai (ZXZC)- SAIC Motor sold 405,725 vehicles in June 2023, representing a year-on-year decrease of 16.1%, the Shanghai-based auto giant announced on Friday.

For the first six months of this year, the group saw its cumulative sales dip 7.28% from the previous year to 2,071,641 units.

Notably, SAIC Motor’s monthly sales have displayed a continuous upward movement month by month through the entire first half of 2023.

Of the vehicles sold last month, 85,867 units were new energy vehicles (NEVs), marking a 5.95% decline over a year earlier. In the Jan.-Jun. period, SAIC Motor sold a total of 372,102 NEVs, which dropped 5.26% from the year-ago period.

Despite the year-on-year downturn in overall auto wholesales, SAIC Motor’s overseas business still posted a robust rising performance. During the first six months of the year, the group recorded a combined number of 533,424 vehicles for its export volume and sales in overseas markets, indicating a 40.01% year-on-year spike. The figure stood at 94,969 units in June alone, rising 12.88% from a year ago.

Among them, MG brand sales in Europe amounted to around 115,000 vehicles in the first half of the year, experiencing a remarkable surge of 143%, with NEVs accounting for over 50%.

IM L7; photo credit: IM Motors

IM Motors, the premium electric vehicle brand jointly backed by SAIC Motor, Alibaba Group, and Zhangjiang High-Tech, sold 2,007 vehicles in June, resulting in a year-to-date sales volume of 9,790 units.