Sales / Industry
SAIC October: NEV sales up 25.12% while the group total slipped 5.28%
The group sold 430,000 vehicles in October, with new-energy volumes at 258,600 and exports at 162,500. Its joint ventures fell sharply while own-brand passenger cars and Maxus grew.
Media-based report · see original reporting below
Key points
- SAIC sold 430,000 vehicles in October, down 5.28% year on year, on production of 434,300.
- New-energy sales reached 258,600, up 25.12%, and exports 162,500, up 67.28%.
- SAIC Volkswagen fell 27.94% and SAIC-GM 51.37%, while passenger cars rose 32.68%.
- IM Motors reported 7,837 vehicles, down 40.32%; the SGMW figure in this filing differs from SGMW's own release.
Reported details
SAIC Motor filed October figures on 1 November: 430,000 vehicles sold, 5.28% fewer than a year earlier, from 434,300 produced. New-energy sales reached 258,600, up 25.12%, and exports plus overseas-base sales 162,500, up 67.28%. The three lines move in different directions, which is the story of the filing.
The brand table shows where the decline sits. SAIC Volkswagen reported 67,500 vehicles, down 27.94%, and SAIC-GM 25,865, down 51.37%. SAIC Motor Passenger Car reported 123,879, up 32.68%, Maxus 32,343, up 62.47%, and IM Motors 7,837, down 40.32%. Overseas units also grew: JSW MG India 7,964 and SGMW Indonesia 2,281.
For January to October the group reports 3,577,100 vehicles sold, down 1.92%, with new-energy volumes at 1,646,900, up 27.72%, and exports and overseas bases at 1,328,100, up 54.04%. One figure needs care: this filing lists SGMW at 157,184 for October, while SGMW's own release the same day reported 142,757 vehicles globally. The two are not the same measure and should not be reconciled.
Editorial interpretation
Our reading is that SAIC's near-flat group total hides a large mix change rather than a stable business. New-energy sales were about 60% of October volume on the reported figures, and exports accounted for roughly 38%; without both, the joint-venture declines alone would have pulled the total much lower. The filing does not disclose margins, so it cannot show whether the replacement business is more or less profitable.
What to watch next is whether the export line keeps growing at this rate and whether IM stabilises after a 40% drop. Two cautions apply. Exports and overseas-base sales are shipments, not retail registrations, and a group total mixes brands with very different price positions. We are not attributing the joint-venture declines to a cause the company did not state.
What it means
SAIC Motor's October production and sales filing as reported by IT Home, with SGMW's separate release noted where the two figures differ. Percentages and the volume split are the company's; the share calculations are ours. The IM Motors photograph is a brand reference, not a scene from the period reported.
Original reporting and attribution
IT Home / IT之家 ↗浩渺
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