AutoBeta(AutoBeta.net)11/05 Report--

Today, SAIC released production and sales data for October 2021, according to its data, SAIC sold 582137 vehicles in October, compared with 596719 in the same period last year, down 2.44% from January to October cumulative sales of 4201180, down 0.21% from a year earlier.

It is worth noting that on October 29th, SAIC announced its results for the third quarter of 2021, which showed that its operating income was 181.759 billion yuan, down 13.5% from the same period last year, while the net profit belonging to shareholders of listed companies was 7.036 billion yuan, down 14.75% from the same period last year. In the first three quarters, the company's operating income was 538.373 billion yuan, an increase of 11.09% over the same period last year; the net profit belonging to shareholders of listed companies was 20.35 billion yuan, an increase of 22.24% over the same period last year.

As we all know, SAIC-Volkswagen and SAIC-GM are the profit sources of SAIC, but under the background of lack of core in the general environment, the sales performance of the two companies is not optimistic. Specifically, SAIC-Volkswagen fell sharply, with sales of 120001 vehicles in October, down more than 22% from 155000 last year. SAIC-Volkswagen sold a total of 970438 vehicles from January to October, down 18.2 per cent from a year earlier. SAIC-Volkswagen produced 116323 vehicles in October, down more than 29% from 164626 in the same period last year. SAIC GM sold 132000 vehicles in October, down 15 per cent from a year earlier. SAIC GM sold 1033913 vehicles, down 6.65 per cent from a year earlier.

From the production and sales data released by SAIC, we can see that although SAIC GM Wuling has accumulated sales of 1251441 vehicles, an increase of 7.51% over the same period last year, it is unable to form the profit support of SAIC because the profit margin of its products is not very large.

By comparison, the performance of independent brands is more eye-catching, of which SAIC passenger car sales totaled 595363, up 25.7 per cent from the same period last year, while SAIC Chase sold 180789 vehicles, up 27.92 per cent from the same period last year. The growth trend of independent brand performance has also strengthened SAIC's development of its own brand of high-end intelligent electric vehicles. On October 29, SAIC announced that it would invest in the establishment of Feifan Automotive Technology Co., Ltd., the original R brand of the passenger car branch, which will be marketed by Feifan Automobile as an independent company, and Feifan Automobile will be deeply involved in the middle and high-end electric car market.

However, it is not easy to follow the path of independent high-end brands. Cui Dongshu, secretary general of the joint venture brand, Cui Dongshu, once said that when the joint venture brand new energy high-end cars have not been effectively launched, the high-end new energy of independent brands is still relatively advantageous. It is a development opportunity for independent brands. Compared with overseas brands, independent high-end new energy brands have strong location advantages and local advantages of traditional industrial chain combination, but have disadvantages in technology and intelligence.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat