AutoBeta(AutoBeta.net)01/09 Report--

On January 9, SAIC officially released production and sales of KuaiBao in December 2019. Figures show that SAIC sold 6.2379 million vehicles last year, down 11.54% from the same period last year, and 697700 vehicles in December 2019, up 5.75% from the same period last year.

In 2019, due to the severe automobile market, the macro-economic downturn and the decline of new energy vehicle subsidies, the sales volume of the automobile market showed a depressed trend. Based on the forecast of the domestic auto market, SAIC adjusted its sales target for 2019 to 6.5 million vehicles in its financial report for the first half of 2019, a decrease of 8.5% from the sales target of 7.1 million vehicles at the beginning of the year. There is still a shortfall of 262100 vehicles.

In terms of joint venture brands, sales of SAIC-Volkswagen and SAIC-GM showed negative growth in 2019, with SAIC-Volkswagen selling 2.001 million vehicles in 2019, down 3.07 per cent from the same period last year. SAIC GM sold 1.6 million vehicles in 2019, down 18.78 per cent from a year earlier. SAIC GM Wuling sold 1.66 million vehicles in 2019, down 19.42 per cent from a year earlier.

In terms of independent brands, SAIC sold 77400 passenger cars in December 2019, an increase of 11% over the same period last year. However, sales still showed negative growth in 2019, down 4.08 per cent from a year earlier to 673000 vehicles. SAIC Chase sold 153000 vehicles in 2019, an increase of 21.36% over the same period last year.

According to the sales data released by SAIC, SAIC-Volkswagen, SAIC-GM, SAIC-GM Wuling and SAIC passenger cars have all declined to varying degrees. Although SAIC Chase does not sell much annually, it has achieved year-on-year growth.

However, in terms of new energy vehicles, SAIC said that under the cooling environment of the new energy vehicle market in 2019, SAIC new energy sales exceeded 180000 vehicles, an increase of 30% year on year, second only to BYD's 229500 vehicles.

The performance of car sales is not satisfactory, and the performance of SAIC is not optimistic. In the first three quarters of 2019, SAIC's operating income was 585.35 billion yuan, down 13.3% from the same period last year, while the net profit belonging to shareholders of listed companies was 20.79 billion yuan, down 24.9% from the same period last year.

As the largest automobile group in China, the trend of negative sales and performance growth in 2019 has become a foregone conclusion. With the change of the market environment in the cabinet, the sudden rise of independent brands and the decline of the price of joint venture car enterprises, the competition pressure of SAIC in 2020 is also increasing.

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