AutoBeta(AutoBeta.net)09/05 Report--

On Sept. 5, SAIC announced sales KuaiBao showed that a total of 512100 vehicles were sold in August 2022, an increase of 12.94% from January to August, an increase of 3.2531 million vehicles, an increase of 4.83%. Among them, SAIC-Volkswagen sales rose 3.81 per cent to 127100 vehicles in August from a year earlier, and cumulative sales rose 14.69 per cent to 832000 vehicles from January to August.

From the group level, SAIC Volkswagen is the profit cow of SAIC Group, which is much higher than SAIC GM and SAIC GM Wuling. According to the financial report, SAIC-Volkswagen's operating income in the first half of the year was 63.582 billion yuan, down 3.55% from the same period last year, and its net profit was 2.804 billion yuan, down 2.81% from the same period last year.

SAIC Volkswagen has Audi, Volkswagen, Skoda three major brands, respectively, the layout of luxury, mainstream, low-end market, but except for the Volkswagen brand, the performance of the other two brands are not optimistic. Take SAIC Audi as an example, its models for sale include the A7L and Q5 e-tron, and the first fuel SUV Audi Q6 began pre-sale on July 24, with a pre-sale of between 50 and 650000 yuan. However, whether it is A7L, Q5 e-tron or Q6, the sense of presence in the market is not strong. Data show that SAIC Audi insured 2704 vehicles from January to July, of which Audi A7L sold 2207 vehicles.

A few days ago, SAIC Audi updated the price of Audi A7L 45TFSI models. The original guidance price range is 45.98-519900 yuan, while the new guidance price range is 41.87-489900 yuan, with a minimum reduction of 20000 yuan and a maximum reduction of 41000 yuan. The adjusted price is cheaper than FAW-Audi A6L. Perhaps, price reduction can lead to sales growth, after all, the price is cheaper than Audi A6L, BMW 5-Series, Mercedes-Benz E-Class, as long as the price is appropriate, there are still many consumers paying the bill, but it may also lead to the dissatisfaction of some car owners who have already raised the car. user loyalty and trust have been reduced, while price reduction is more of an impact on the brand, that is, reducing the added value of the brand.

As a joint venture brand that once wrestled with North and South Volkswagen, SAIC GM has three major brands: Cadillac, Buick and Chevrolet, which also covers high-end, mainstream, middle and low-end markets, and has long been at the forefront of domestic passenger car sales. However, SAIC GM's influence has not been as good as it used to be in recent years. SAIC GM's sales rose 13.29 per cent year-on-year to 120100 vehicles in August, while cumulative sales fell 4.63 per cent to 741900 vehicles from January to August, making it the group's only joint venture brand to decline, according to the data.

According to the financial report, SAIC GM's operating income fell 14.84% year-on-year to 67.52 billion yuan in the first half of the year, while net profit fell 2.9% to 2.28 billion yuan. There is no denying that the epidemic in the first half of this year led to the slow progress of the SAIC GM plant, which dealt a heavy blow to SAIC GM sales. But the root cause of SAIC GM's decline in sales in recent years is itself. On the one hand, the domestic fuel vehicle market is gradually shrinking, SAIC GM fuel vehicle road may not be feasible; on the other hand, the domestic new energy market is gradually forming a scale, a number of enterprises are pouring into the ranks of new energy vehicles. Although SAIC GM is accelerating the promotion of the hybrid pure electricity market, it may not be able to gain a foothold even though it started relatively late. Whether SAIC GM can maintain its market position still depends on the market planning in the later stage.

As for SAIC GM Wuling, sales rose 11.57 per cent to 145100 vehicles in August from a year earlier, and cumulative sales rose 1.19 per cent to 912200 vehicles from January to August. Its sales mainly rely on Hongguang MINIEV, but this is a model with no profit margin, especially in the context of rising parts supply and raw material prices. Hongguang MINIEV's profit margins have been further suppressed. Sept. 1, SAIC GM Wuling announced that Wuling Hongguang MINIEV convertible version officially opened the lottery. It is understood that users can participate in the lottery through the official APP or Mini Program and draw the qualification for the Hongguang MINIEV convertible version by the drawing code. However, the final price of the car has not been announced officially. According to the official announcement, the number of people who have participated in the draw has reached 100000, and the first batch of eligible users will be selected and announced on Sept. 21.

In terms of independent brands, SAIC passenger car sales (including Mingjue / Feifan / Roewe) increased by 29.76 per cent year-on-year to 84300, and cumulative sales from January to August increased by 29.43 per cent to 536300. In addition, high-end new energy brand Zhiji sold 1007 cars in August.

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