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

SAIC, as the largest automobile group in China, will inevitably decline while China's car sales remain in the doldrums. According to KuaiBao, SAIC's April production and sales, SAIC's sales fell 20% in that month to 1.99 million vehicles from January to April, down 16.8% from a year earlier, and sales directly decreased by 400000.

China's new car sales are affected by the economic slowdown, the overall market situation continues to decline, 2018 is the inflection point of China's automobile industry, the decline continues to this day, the passenger car market monthly sales decline with double digits, affecting the sales performance of various manufacturers. SAIC stall reflects the depressed market environment of the domestic auto market.

The four major sales pillars of SAIC Group are SAIC Volkswagen, SAIC General Motors, SAIC GM Wuling and SAIC independent brands, which all declined to varying degrees in the previous April.

SAIC Volkswagen is an enterprise that sells 2 million vehicles a year, and its strength is evident. However, SAIC-Volkswagen sales fell 10.5 per cent in April from a year earlier to 143000 vehicles, compared with 611000 in the previous April, down 9.2 per cent from a year earlier. The vacancy of SAIC-Volkswagen new energy products has failed to meet the market trend, and it plans to rescue the market by launching more SUV products, including small SUV T-Cross, Tuen X and other new cars will be launched in the second half of the year.

SAIC GM fell even faster, selling 125500 new cars in April, down 26.7 per cent from 171000 in the same period last year, down 26.7 per cent from January to April, down 16.6 per cent from a year earlier. SAIC GM has adopted a price reduction strategy to recover some of its sales, but the downward trend is still there. General Motors CFO Suyadwalla said the company would further cut production at its factories in China in the second quarter to solve inventory problems. 'China 's auto market is very volatile,'he said.

Due to the serious contraction of the MPV market and the decline in demand for low-end cars, SAIC GM Wuling fell at about 1/4 for many months in a row. From January to April this year, SAIC GM Wuling obtained sales data of 535000 vehicles, down 26.5% from a year earlier.

In SAIC's independent sector, Roewe and Mingjue market demand also declined further, with cumulative sales falling to 206000 vehicles in the first four months, down 15.4 per cent from the same period last year.

In addition, SAIC made a net profit of 8.25 billion in the first quarter of this year, down 15% from a year earlier, the first decline in SAIC's net profit in the first quarter of a decade.

SAIC stalled, profits and sales declined, which is a portrayal of the automobile industry as a whole.

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