SAIC Releases Third Quarter 2023 Report

SAIC recently released its third quarter 2023 report. In the first three quarters of this year, SAIC sold 3.377 million vehicles, continuing to maintain the industry lead; at the same time, through continuous optimization of the sales structure, it achieved a total operating income of 523.34 billion yuan, basically unchanged from the same period of last year; the net attributable profit reached 11.41 billion yuan, and the main economic indicators continued to maintain a quarter-by-quarter upward trend.

(Sales, revenues and profits all rose quarter-on-quarter）

From January to September, SAIC's terminal deliveries of new energy vehicles amounted to 683,000 units, up 18.2% year-on-year, with the sales scale ranking the second among Chinese automobile enterprises, and the sales volume of new energy vehicles exceeded the 100,000-unit mark in a single month in September; the cumulative wholesale sales volume of SAIC's foreign export market reached 838,000 units, up 21.8% year-on-year, and continued to lead the Chinese automobile enterprises,of which the MG4 EV successfully won the "European Pure Electric Compact Car Sales Champion" with cumulative sales of 54,000 units in developed European countries. Among them, MG4 EV sold 54,000 units in developed countries, successfully winning the "European Pure Electric Compact Car Sales Champion".

The fourth quarter saw the upward movement of the MG4 EV. "Since the Golden Nine and Silver Ten, the pace of recovery of the domestic auto market has further accelerated, and the overall market is expected to realize double-digit growth in the fourth quarter. The Zhiji LS6, which "broke the 10,000 mark in the first week of its launch", will be delivered in November; the Rongwei D7 and Wuling Starlight, which have outstanding product strength and explosive potential, will be launched soon; the Wuling Colorful Electric Vehicle is launching a sprint to the top of the market segment; the delivery of SAIC Volkswagen's ID family, which has received more than 20,000 orders in a single month, will be accelerated; and the SAIC Buick ELECTRA, which is the most popular vehicle in the world, is expected to achieve a double-digit growth in the fourth quarter. With the delivery of over 20,000 units of Volkswagen ID.family products in a single month, the accelerated delivery of SAIC's ELECTRA E5 and Micro Blue 6 models, SAIC will strive to achieve even better business performance in the fourth quarter with the focus on a series of heavyweight products from independent and joint venture brands.

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