SAIC Motor reports 49.3% growth in overseas market
SAIC Motor, China's largest carmaker, reported its retail and wholesale sales of vehicles totaled 301,000 units in February, growing by 26.6 percent from the previous month, while the carmaker's total deliveries last month reached 358,000 units, up 16.8 percent month-on-month, continuing to lead the automobile industry in China.
According to official data, SAIC Motor sold 45,000 new energy vehicles in February, up 38.5 percent from the previous month, and 84,000 units were sold in overseas markets, up 49.3 percent year-on-year. Its self-owned brands including IM Motors and Rising Auto, and its joint ventures such as SAIC-GM's Buick and Wuling Motor launched new energy intelligent connected vehicles, which are expected to boost the carmaker’s growth in the second quarter of the year.
The LS7, the first mid-and-large-sized SUV developed by IM, hit the market in February and has been delivered to customers earlier this month, with cumulative orders for the LS7 exceeding 15,000. The LS7 features an innovative rooftop design and offers a 106-degree field of vision, the largest among SUVs.
The F7, a new model launched by SAIC Motor's Rising Auto, offers consumers a comfortable driving experience, and has received more than 12,000 orders after it made its debut a month ago. The new model will hit the market later this month, and deliveries will start around the same time.
Since February, SAIC Motor has seen a surge in overseas sales, with 84,000 units sold in overseas markets. Official data shows that in Europe, monthly sales of MG, one of SAIC's self-owned brands, have doubled year-on-year. MG has continued to lead new car sales in European countries such as the United Kingdom, France, Spain, Sweden, and Norway. It is also among the world’s top 10 car brands in countries and regions such as Australia, New Zealand, the Middle East, Mexico, India, Thailand and Chile.
With the debut of new vehicle models, SAIC Motor expects to see "explosive growth" in sales in the second quarter of the year, which will help the carmaker recover from the COVID-19 pandemic.