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As the largest listed automobile company in China, SAIC Group accounts for only 1.71% of the total revenue every year.

According to SAIC's financial report data, the company achieved annual revenue of 902.2 billion yuan in 2018, with a net profit of 36 billion yuan belonging to listed companies. In 2018, the group's R & D expenditure was 15.39 billion yuan, an increase of 18.29% over the same period last year, accounting for about 1.71% of the total revenue.

Compared with the major foreign automobile companies, there is a large gap in R & D investment. BMW made a net profit of 9.815 billion euros on revenue of 97.48 billion euros in 2018, while research and development investment was 6.89 billion euros, accounting for about 7.1% of total revenue.

Among the outstanding foreign car companies abroad, R & D expenses basically account for more than 5% of the total revenue. Volkswagen Group's annual R & D expenses in recent years have all exceeded 100 billion yuan. According to its announcement, the R & D investment will be increased to about 230 billion yuan by 2022. Based on Volkswagen Group's current annual revenue of about 1.8 trillion yuan, its R & D expenses account for more than 5% of the total revenue.

SAIC is still the first in the domestic automobile industry. According to relevant statistics, in 2018, a total of 28.146 million vehicles were sold in the domestic market, including 23.694 million passenger vehicles and 4.452 million commercial vehicles. SAIC, on the other hand, sold 7.052 million vehicles in the whole year, accounting for 25.05% of the market share. Among them, SAIC sold 6.162 million passenger vehicles and 889000 commercial vehicles.

In the domestic automobile industry, most of the car companies'R & D expenses account for a low proportion of the total revenue. GAC GROUP's operating income in 2018 was 72.38 billion yuan, while R & D investment was only 826.7 million yuan, accounting for 1.14% of the total revenue. Among domestic independent brands, Great Wall's R & D spending in 2018 also fell from 3.365 billion yuan in 2017 to 1.743 billion yuan in 2018, accounting for about 1.75% of total revenue.

Although the overall car market is not very good in 2018, the research and development expenses of Great Wall accounted for more than 3% of the total revenue, which is better than the car companies such as SAIC, which mainly sell joint venture brands. As a leading enterprise in China's new energy vehicle industry, BYD's revenue in 2018 was 130.1 billion yuan, R & D expenses were 4.989 billion yuan, and R & D expenses accounted for about 3.83%. And this is also one of the car companies with the highest proportion of R & D investment in China.

Among many independent car companies, SAIC's investment in R & D funds can be said to be the lowest among domestic car companies. If there is not much investment in research, how to develop a good product?

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