When the New Year's bell rings, the year is replaced and everything starts anew. On the first day of the new year, SAIC-GM announced its 2024 sales report. Data shows that in the past December, SAIC-GM's terminal sales were 73,058 vehicles (including exports), once again setting a new monthly sales record for the year, and it has achieved a month-on-month increase for 6 consecutive months, with obvious signs of accelerated recovery. Last year, SAIC-GM's cumulative terminal sales were 673,007 vehicles (including exports), among which the new energy sector showed a relatively rapid growth momentum, with a total annual sales of more than 100,000 vehicles, reaching 104,905 vehicles, a year-on-year increase of 56%. The new energy penetration rate ranks high among mainstream joint venture automakers, which fully demonstrates that the company has achieved positive results in the intelligent electric transformation.
In the context of increasingly fierce competition in the auto market, it is impossible to say that there is no pressure. Last year, joint venture automakers generally faced challenges due to the impact of the "price war", and some experienced a decline in sales or even a halving. SAIC-GM has been intensively renewing its products since the second half of the year, and has reorganized its product structure and pricing strategy. At the same time, it has focused on continuous innovation in marketing systems, service experience, etc., and has continuously generated new energy in the market, showing a stabilizing and improving momentum, achieving 6 consecutive increases in monthly terminal sales, which has also injected more confidence and vitality into its future high-quality operations and sustainable development.
Product renewal and efforts, key models performed well, and continued to consolidate market position
SAIC-GM was able to deliver a good year-end report, mainly due to the hot sales of its many phenomenal models, especially its key flagship products, which won the trust and recognition of consumers with their strong strength and excellent quality.
From the perspective of specific models, Buick MPV team still performs well. The GL8 family, consisting of GL8 Lu Zun PHEV, the new GL8 Lu Zun, and GL8 Land Business Class, is strongly competing for the annual sales champion of the MPV market, and the cumulative terminal sales in 2024 will exceed 100,000 units. All models of the family have blossomed. In recent months, sales have increased month-on-month for many consecutive weeks and have remained at the top of the market segment. At the same time, the market ownership, model value retention rate, and user reputation are all leading in the same class, and the strength defends the honor of MPV king. Since its launch, GL8 "Golden Label Double Honor" has been in short supply, and sales and orders have maintained growth. It not only meets consumers' advanced needs for luxury and comfort, flexible space, driving quality, smart travel and other multi-functional and full-scene advanced needs, but also creates a smart electric MPV travel experience that is compatible with work, leisure, and entertainment, carries warmth, and highlights taste with its unique appeal. GL8 Land Business Class has become a high-value choice in the 200,000-level large MPV market with its business-friendly and family-friendly features, outstanding reputation, and superior quality.
The 2025 Buick Century CENTURY also received a warm market response after its launch, with sales in December increasing by 52.6% month-on-month, continuing to write the "Century" legend in the top luxury MPV market.
In terms of SUV, the monthly sales of Buick Envision family exceeded 20,000 units in December, reaching 20,643 units. Among them, Envision Plus delivered a total of 13,540 units in December, a year-on-year increase of 198.2%, setting a new sales record for 2.0T single-displacement models and ranking among the top 3 in the fuel SUV market. Envision Plus adheres to the spirit of "10% more" and relies on the product strength advantage of "entry-level intelligence, standard configuration and full configuration" to break the original market segmentation pattern in one fell swoop and become the sales king of 2.0T SUV in the 150,000-200,000 yuan market.
The Buick E5, a comfortable five-seater smart electric SUV, continues to rank among the top in the sales list of pure electric medium and large SUVs. The car is equipped with the Autoneng smart electric platform, has a large five-seater spacious space, convenient and practical smart cabin and smart driving functions, and is backed by the "strength of a major manufacturer", bringing users a safer, smarter, and more comfortable high-quality new energy vehicle experience. What is particularly striking is that since its delivery, the Buick E5 has achieved a cumulative mileage of 500 million kilometers with zero spontaneous combustion, zero fire in collision accidents, and zero attenuation in one year of driving - the actual battery capacity measured by users after one year of use is 102% of the announced value, which is worthy of users' trust in terms of battery safety and solid battery life.
As for sedans, the Buick LaCrosse 2025 Platinum model was a hot seller upon its launch, with terminal sales of 5,940 units in December, up 29% month-on-month and 105.5% year-on-year. With its stylish appearance, size and materials comparable to luxury brands, the only "Four Heavenly Kings" seats within 200,000 yuan, the strongest "double top ten" power in its class, industry-leading smart cabin experience and five-star safety protection, as well as a sincere starting price of 159,900 yuan and real money benefits, LaCrosse has truly become the first choice for B-class cars with its C-class strength.
As for the Cadillac brand, the Cadillac brand continued to improve in 2024, with sales of 14,103 units in December, a month-on-month increase of 27.0%; the cumulative sales for the whole year were 127,875 units, achieving continuous growth for 6 consecutive months. The star models, the new XT5 and CT5, led the efforts. The new XT5 has won the recognition of luxury car users with its luxury and full-equipped strength and sincerity. In December, 6,163 units were delivered, a year-on-year increase of 114% and a month-on-month increase of 56.7%. Since its launch three months ago, the cumulative number of large orders has exceeded 20,000, and more than 15,000 units have been delivered, of which the mid-to-high-end models equipped with the three-piece golden set of the Hummingbird chassis accounted for more than 60%; the new Cadillac CT5, which inherits the track gene, has become a luxury rear-wheel drive sedan preferred by young people with the only "supercar four-piece set" hard-core equipment in its class. Sales in December were 5,670 units, a month-on-month increase of 6.7%.
Don’t be afraid of internal competition, maintain strategic focus, and strengthen system strength
At a time when the waves of electrification, intelligence and networking are sweeping across the country, one of the key reasons why SAIC-GM has been able to rebound and gain a firm foothold in the market is that it has the determination and courage to fight to the bitter end, as well as the endurance and perseverance of a marathon runner.
As we all know, the reason behind the intensified competition is the rapid iteration of technology and more stringent consumer demands. This requires automakers to respond to the fast-moving market with a more agile and flexible attitude. New forces are small and easy to turn around, while traditional automakers are like elephants turning around, with considerable resistance. Although SAIC-GM is facing pain in the process of transformation, it has always adhered to the long-term thinking and the business philosophy of "customer-centric and market-oriented". Through forward-looking insights into changes in market trends and upgraded user needs, it has quickly adapted to market innovation and evolution, demonstrating strong development resilience and sufficient stamina.
The first is to continue to consolidate system capabilities, including the new energy full-link system and the local intelligent R&D system as well as the constantly upgraded R&D strength. From the earliest Pan Asia Automotive Technology Center and Guangde test track to the two new energy laboratories and two Aote Energy super factories (the third Dongyue is under construction), SAIC-GM is the fastest car company among the mainstream domestic manufacturers to establish a complete new energy full-link system. In response to the industry trend of intelligence, General Motors established the first software development center for a single regional market worldwide-the Software and Digitalization Center. In addition, from the 100% localization of the supply chain system to the comprehensive localization of R&D and manufacturing, SAIC-GM's cost control has now fully entered the era of autonomy.
Secondly, we must not be afraid of "rolling", dare to show our swords, and fight with real technology. Technological innovation is an important cornerstone for the high-quality development of SAIC-GM. Let's first look at the Auteneng electrification platform. SAIC-GM has integrated the concept of "high safety throughout the life cycle" into the entire process of Auteneng battery research and development, testing, manufacturing, vehicle use and tiered recycling, making the Auteneng platform the ceiling of electric platform safety in the industry. At the beginning of 2024, SAIC-GM launched the "True Dragon" plug-in hybrid system, which uses a full-stack self-developed P1P3 plug-in hybrid electric drive unit, coupled with the strongest 1.5T hybrid engine in its class, Auteneng standard ultra-high safety plug-in hybrid battery representing the industry's battery safety ceiling, and the industry's first triple AI intelligent control algorithm, which has achieved high-speed stability without stalling, full and insufficient electricity, fuel-saving in all working conditions, and a comprehensive optimization of real endurance for thousands of miles, sounding the "counterattack horn" of SAIC-GM in the plug-in hybrid 2.0 era.
Finally, it is the vehicle safety that reflects the responsibility of large manufacturers. Whether in the era of fuel vehicles or the new era of smart electric vehicles, SAIC-GM and Pan Asia Technical Center are benchmark companies for vehicle safety. As one of the earliest established and most technologically powerful R&D centers in China, Pan Asia Technical Center has long had an independent safety development team that can exercise a veto over any development project with potential safety hazards. For 27 years, SAIC-GM and Pan Asia Technical Center have been core participants in the formulation of industry standards, leading and participating in the formulation of more than 200 international and domestic standards, actively sharing their technical experience in safety with the industry, and working together with peers to make progress.
Plan carefully before taking action, and make all-out efforts to accumulate strength for the future
The involution of the auto market has intensified. In order to continue to sit at the table, everyone must go all out and not relax for a moment. Judging from the reactions and response strategies of various manufacturers, there are some that integrate and reorganize to keep warm, and some that exchange price for volume to maintain the basic market. SAIC-GM plans before acting, focusing on accumulation and development, and every step in the transformation process is steady and powerful. With the support of the parent company and both shareholders, SAIC-GM has currently formulated a package plan for sustainable and healthy development in the future, including a product portfolio for the next 10 years. This year, SAIC-GM will launch more innovative technologies and more high-quality new cars, including mainstream technology types such as pure electric, plug-in hybrid and extended-range, to launch a comprehensive counterattack against joint venture automakers.
Since the second half of last year, SAIC-GM has taken the initiative to adjust production and wholesale volume with the goal of "restoring hematopoietic capacity and returning to a healthy development track", reducing inventory by more than 200,000 vehicles throughout the year, and significantly improving the health of the channel. As the operating pressure on dealers is relieved, dealers are currently going all out to ensure delivery and improve user experience.
Not long ago, SAIC-GM signed a contract with investors from major auto dealer groups across the country, adding 54 new authorized dealers to the company's network layout, with new stores covering 40 cities in 18 provinces, municipalities and autonomous regions across the country. This fully demonstrates that partners continue to be optimistic about SAIC-GM's corporate strength and development prospects, especially highly recognizing SAIC-GM's commitment to building a mutually beneficial, win-win, long-term and healthy cooperative relationship with dealers.
It is true that joint venture automakers are facing unprecedented challenges in the Chinese market, and no one can be immune to them. However, for large companies that adhere to long-termism, they will always encounter new problems, difficulties and challenges in the process of development. The key is whether they can find the crux in time, adjust strategies and turn around quickly. After years of accumulation, SAIC-GM, which is actively transforming and developing, is making great efforts to take off and is expected to usher in further transformation. I believe that in the new market environment, SAIC-GM will take a brand new attitude, move faster and more steadily in the transformation of intelligent electric vehicles, and write a new chapter of high-quality development.