SAIC sells 91,000 NEVs in accelerated July growth

Chinese automaker SAIC Motor Corp has maintained its surge in the new-energy vehicle (NEV) market, selling 91,000 NEVs in July, the highest for the year.

This marks a continuation of the Shanghai-headquartered automobile group's impressive monthly growth trend since January, it said. The figure also indicates that SAIC Motor's NEV sales ranked second among Chinese automakers in July, behind BYD Auto.

Among them, SAIC Passenger Vehicle (including overseas bases) sold a total of 28,000 NEVs, a year-on-year increase of 29 percent. The company noted that for the first time both SAIC Volkswagen and SAIC-GM broke the 10,000-unit barrier in terms of monthly NEV sales in July, with SAIC Volkswagen selling 13,000 units and SAIC-GM 10,000. SAIC-GM-Wuling, meanwhile, sold 35,000 NEVs.

One of the big drivers of the impressive growth was the SAIC Volkswagen ID.3, which is part of SAIC Volkswagen's ID family of electric vehicles. Launched in early July, the ID.3 model had already received over 10,000 orders by the end of July, thanks to its competitive pricing and superior product features.

SAIC is accelerating the release of several NEV products, both self-developed and from joint ventures, it said. Due to the company's efforts, SAIC's NEV sales have been steadily increasing each month, and it is now aiming for a monthly sales target of 100,000 vehicles in the third quarter.

NEV sales have also benefited from various promotional activities and supportive policies in Shanghai, such as purchase subsidies.

In recent years, the NEV industry has become an increasingly significant driver for consumption and economic growth in Shanghai.

Official data showed that Shanghai achieved a GDP of 2.14 trillion yuan (US$29.9 billion) in the first half of the year, with a growth rate of 9.7 percent, ranking first in the country.

A highlight was the growth in total output value of strategic emerging industries. Among them, the output value of NEVs, new energy, and high-end equipment increased by 69.8 percent, 57.8 percent, and 33.1 percent, respectively.

It showed that NEVs in the city developed strongly in the first half of this year due to the advantages of the industrial chain, while analysts and investors are optimistic about the future of Shanghai's NEV industry and look forward to seeing more innovative products and solutions from this sector.