AutoBeta(AutoBeta.net)10/12 Report--

On October 12, SAIC disclosed the latest data showing that the sales volume of automobiles in September 2020 was 602,318 vehicles, with a year-on-year growth of 9.51%; the cumulative sales volume in the first three quarters was 3,613,228 vehicles, down 18.14% year-on-year.

SAIC Group has achieved growth for four consecutive months since June, but the sales performance of its "profit cow" brand SAIC Volkswagen is worrying, and only SAIC Volkswagen has declined among SAIC Group's mainstream brands. Based on this, SAIC Group's cumulative sales volume in the first three quarters still fell by nearly 20%.

In the third quarter, thanks to the continuous promotion of stimulus automobile consumption policies and the holding of major local auto shows, the sales volume of several head automobile enterprises increased. However, for Volkswagen brands, it seems that various positive factors have failed to achieve sales growth. SAIC Volkswagen's sales fell 1.19% to 175,000 vehicles in September this year, and cumulative sales from January to September fell 25.92% to 1,031,385 vehicles, showing year-on-year declines for three consecutive quarters.

In terms of specific vehicle models, the new Lavida is still the sales model of SAIC Volkswagen, and the models such as Touang, Tiguan and Tuyue are still in the forefront of their respective market segments. However, in the face of domestic cars and other joint venture brands, SAIC Volkswagen obviously has some difficulties, although SAIC Volkswagen through a substantial price reduction in exchange for sales, but the market growth momentum is obviously weak, sales for 8 consecutive months year-on-year decline is the best proof.

In contrast, another joint venture company of Volkswagen Group in China can be said to have formed a huge contrast. FAW-Volkswagen sales in China rose 3.9 percent to 224411 vehicles in September, according to FAW Group data. FAW-Volkswagen owns three brands, namely Volkswagen brand, Jetta brand and Audi brand, covering mainstream, middle and low-end and luxury markets. The products are relatively complete, so FAW-Volkswagen has certain advantages in sales volume. In the first August of this year, FAW-Volkswagen sales volume has been successfully "turned positive", leading SAIC Volkswagen by 350,000 vehicles. In addition to the sales volume in September, FAW-Volkswagen sales volume has been nearly 400,000 vehicles ahead of SAIC Volkswagen.

SAIC GM's vehicle sales rose 9.47% to 153,326 units in September, with cumulative sales falling 21.97% to 951,561 units in the first three quarters. SAIC GM mainly relies on Buick brand to maintain sales overall situation, its sales in September increased by 28% to 98722 vehicles, cumulative sales in the first three quarters of 588382 vehicles; Cadillac increased by 41.7% to 26,000 vehicles, cumulative sales in the first nine months reached 152,860 vehicles.

Sales of Buick and Chevrolet's main models rose rapidly after the launch of four-cylinder versions, solving the dilemma of only three-cylinder engines for consumers to choose from. As for Cadillac in the loss of second-tier luxury brand sales crown, it to its various models for price reduction sales, in September successfully overtook Lexus.

SAIC-GM Wuling's monthly sales volume was higher than that of the same period, with sales increasing 19.73% to 176,000 units in September and cumulative sales falling 12.61% to 985,040 units in the first three quarters. Sales of Wuling brand increased by 36% to 118,027 units, and sales of Xinbaojun brand increased by 22% to 20,290 units. In the passenger car field, with the MPV market cold, Wuling and Baojun brands also seek brand upgrading and transformation, while driving the mini electric vehicle market. It is understood that Wuling Hongguang MINI EV has become a popular model in the field of new energy, with sales reaching 20105 vehicles in September.

In terms of self-owned brands, SAIC passenger car sales increased by 5.86% to 60,366 units in September, and cumulative sales decreased by 14.52% to 403,268 units; SAIC Chase sales increased by 40.31% to 21,199 units, and cumulative sales increased by 19.13% to 121,454 units. 101,955 vehicles.

Among SAIC's subsidiaries, SAIC Volkswagen's performance is significantly lower than the market level, which also leads to huge operational challenges for the group. At present, SAIC Volkswagen urgently needs to invest more energy in solving brand and product problems in order to restore consumers 'trust in Volkswagen brand.

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