As the largest listed automobile company in China, SAIC Motor took the lead in releasing its full-year production and sales data for 2024 at the beginning of the new year 2025. In the past year, SAIC Motor, which has stepped up reform and innovation, has stabilized its overall production and sales, with new energy vehicle sales hitting a record high.
According to official data from SAIC, in December 2024, SAIC Group's vehicle wholesale sales reached 483,000 units, and terminal deliveries reached 506,000 units, with monthly sales increasing for six consecutive months. From a full-year perspective, the cumulative wholesale sales reached 4.013 million units, and terminal deliveries reached 4.639 million units.
In addition to setting a new record in new energy sales, SAIC Group's sales of its own brands also continued to rise. At the same time, overseas terminal deliveries withstood the pressure and grew steadily, further strengthening SAIC's overall momentum of stabilization and recovery.
Specifically, in 2024, the sales of SAIC's own brands (IM, Roewe Feifan, MG, Maxus, Wuling, Baojun, etc.) reached 2.408 million units, accounting for 60% of the group's overall sales, an increase of 5 percentage points from 2023. The sales of new energy vehicles reached 1.234 million units, a year-on-year increase of 9.9%, setting a historical record; among them, the high-end new energy brand IM Auto sold 66,000 units, a year-on-year increase of 71.2%.
In overseas markets, SAIC's terminal deliveries reached 1.082 million vehicles, a year-on-year increase of 2.6%, continuing to rank among the top in the industry; facing the adverse impact of EU anti-subsidy measures, SAIC MG achieved counter-cyclical growth by focusing on the HEV market segment and its sales in Europe exceeded 240,000 vehicles.
At present, SAIC Group has fully transformed into the field of intelligent electric vehicles, invested nearly 150 billion yuan in the research and development of core technologies in the field of intelligent electric vehicles, obtained more than 26,000 valid patents, and successfully launched the "seven major technology bases" with internationally leading technology levels, including three major vehicle platforms of pure electric, hybrid and hydrogen energy, as well as batteries, electric drive, super hybrid systems, and smart car full-stack solutions. At the same time, SAIC has carried out technology co-creation with joint venture automakers and cooperated with joint venture brands such as Audi and Volkswagen, empowering joint venture brands with SAIC's innovative technology in intelligent electric vehicles, and realizing the new era of China's automobile industry joint venture cooperation from "technology introduction" to "technology co-creation".
Looking ahead to 2025, SAIC said it will further accelerate its transformation and upgrading in order to achieve the goals of sales rebound and operational stabilization.
