Record sales, new energy vehicle growth
SAIC Motor released its sales data for 2024, demonstrating its strong resilience and innovation.
According to the data, SAIC Motor's cumulative wholesale sales reached 4.013 million vehicles and terminal deliveries reached 4.639 million vehicles.
This impressive performance highlights the company's strategic focus on its own brands, which accounted for 60% of total sales, an increase of 5 percentage points over the previous year. It is worth noting that new energy vehicle sales hit a record high of 1.234 million vehicles, a year-on-year increase of 9.9%.
Among them, the high-end new energy brand Zhiji Auto achieved remarkable results, with sales of 66,000 vehicles, an increase of 71.2% over 2023.
SAIC Motor's overseas terminal deliveries also showed resilience, reaching 1.082 million units, up 2.6% year-on-year.
This growth is particularly impressive given the challenges posed by EU anti-subsidy measures.
To this end, SAIC MG strategically focused on the hybrid electric vehicle (HEV) segment, achieving sales of more than 240,000 units in Europe, thus demonstrating its ability to effectively respond to adverse market conditions.
Advances in Smart Electrical Technology
SAIC Motor has continued to deepen its innovation and released the "Seven Technology Foundations" 2.0, aiming to lead SAIC Motor to become a leading enterprise in the field of smart electric vehicles. SAIC Motor has invested nearly 150 billion yuan in research and development, and has more than 26,000 valid patents, covering cutting-edge technologies such as industry-leading solid-state batteries, digital intelligent chassis, and "centralized + regional control" refined electronic architecture, helping independent brands and joint venture brands to make breakthroughs in the fierce competition in the automotive market.
The launch of high-end intelligent driving solutions and the DMH super hybrid system further demonstrates SAIC's pursuit of technological excellence. The company's focus on zero-fuel cube batteries and smart car full-stack solutions makes it a leader in the transformation of sustainable mobility. As the automotive industry develops, SAIC's commitment to innovation is expected to play a key role in shaping the future of transportation.
A new era of joint ventures and cooperation
The Chinese automotive industry is undergoing a major transformation, shifting from the traditional "technology introduction" model to the "technology co-creation" model. SAIC's recent cooperation with global automotive giants is a typical example of this transformation. In May 2024, SAIC and Audi announced the joint development of high-end smart electric vehicles and smart digital platforms, marking an important milestone in the cooperation between the century-old luxury brand and China's leading automaker. This cooperation not only demonstrates SAIC's technological strength, but also highlights the potential of cross-border cooperation in the automotive field.
In November 2024, SAIC and Volkswagen Group renewed their joint venture agreement, further consolidating their commitment to collaborative innovation. Through joint technology empowerment, SAIC Volkswagen will develop more than ten new models, including pure electric vehicles and plug-in hybrid vehicles. This cooperation reflects the harmonious relationship of mutual respect and recognition between SAIC and its foreign counterparts. The shift to technology co-creation marks a new era in which Chinese automakers are no longer just recipients of foreign technology, but active contributors to the global automotive landscape.
Looking ahead to 2025, SAIC will strengthen its confidence in development, accelerate its transformation, and fully implement innovative technologies in its own brands and joint venture brands. The company will focus on leading intelligent driving solutions and solid-state batteries to drive sales rebound and stabilize business operations. As SAIC continues to cope with the complexity of the global automotive market, its commitment to innovation and collaboration will be key to achieving continued growth and success.
All in all, SAIC's outstanding sales performance in 2024, coupled with its progress in smart electric technology and strategic joint ventures, marks an important turning point for China's automotive industry. The shift from technology introduction to technology co-creation not only enhances the competitiveness of Chinese automakers, but also cultivates the spirit of cooperation necessary to meet future challenges. As the automotive landscape continues to evolve, SAIC stands at the forefront of this transformation and is ready to lead the automotive industry towards a more sustainable and innovative future.
Post time: Jan-06-2025