AutoBeta(AutoBeta.net)03/06 Report--

Affected by the epidemic, SAIC's production capacity and sales fell sharply in February. According to a data report released by SAIC, SAIC produced 32260 vehicles in February, down 90 per cent from a year earlier; sales were 47365, down 87 per cent from a year earlier.

The sharp decline in production and sales data is mainly affected by the cessation of all activities under the epidemic. The resumption of production of many subsidiaries of SAIC Group gradually resumed in the second half of the month, while car sales stores are in a state of long-term closure, even if sales factories are opened. Consumers' willingness to buy cars is still affected by the epidemic.

Specifically, SAIC-Volkswagen sold 10, 000 vehicles in February, down 91 per cent from a year earlier, while sales in the first two months totaled 123000, down 59 per cent.

SAIC GM sold 7612 vehicles in February, compared with 97177 in the same period last year, down 92 per cent for the month. From January to February this year, SAIC GM fell 52% from a year earlier to 133000 vehicles.

The sales of SAIC passenger cars and SAIC Datong account for relatively low, so the decline is relatively small. Among them, SAIC passenger cars, which own Roewe and Mingjue brands, sold 7967 vehicles in February, down 32 per cent year-on-year to 68000 in the first two months.

SAIC GM Wuling, which owns Wuling and Baojun, sold 11800 vehicles in February, down 88 per cent from January to February, down 65 per cent from January to February.

SAIC as a whole, cumulative production from January to February was 450000, down 52.5 per cent from a year earlier, while sales were 447600, down 54 per cent from a year earlier.

Under the influence of the downturn in the car market and the epidemic, the production and sales of SAIC Group fell sharply in 2020. In this case, many companies under SAIC Group began to implement the "salary reduction" plan of senior executives and cut a certain percentage of performance bonuses. Including SAIC Chase, SAIC Huizhong, and so on, have circulated relevant salary adjustment plans online.

A number of SAIC companies reduce employees' performance pay, and a person from SAIC's public relations department said, "under special circumstances, it is very normal for employees' income to fluctuate in the part linked to performance. The production and sales volume of many car companies fell too much in February, and enterprises adjust performance pay according to the situation, which is also in full compliance with national laws and regulations, and the salary system is also in line with the market competition system. "

In fact, the sales and performance of SAIC declined in 2019, and the COVID-19 epidemic became the fuse of enterprise adjustment. In 2019, SAIC sold 6.238 million vehicles, down 11.5% from the same period last year. The company expects to achieve a net profit of about 25.6 billion yuan attributable to shareholders of listed companies in 2019, a decrease of about 10.4 billion yuan or about 29% compared with the same period last year.

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