AutoBeta(AutoBeta.net)08/12 Report--

According to the July production and sales express released by SAIC Group, in July, SAIC Group's comprehensive sales volume was close to 440,000 vehicles, down 9.3% year-on-year; in the first seven months of this year, the Group's cumulative sales volume was 3.377 million vehicles, down 15.7% year-on-year.

In the first seven months, the cumulative production and sales volume of Shanghai Group decreased by 21.04% and 15.73% respectively. Among the 11 affiliated units, except SAIC GM Wuling Automobile Indonesia Co., Ltd. and Mingjue Automobile India Co., Ltd., the accumulated sales volume of the remaining 9 units decreased to varying degrees in the first seven months.

In the passenger car field, the joint venture plates SAIC Volkswagen and SAIC GM also continued to decline in July, and SAIC Volkswagen's decline was smaller than SAIC GM's. From January to July, the cumulative sales volume of SAIC Volkswagen and SAIC GM decreased by 9.3% and 13.5% respectively.

In terms of independent plate, SAIC passenger car brand sold 52,025 vehicles in July, with a year-on-year growth of 8.14%. The cumulative sales volume from January to July was 363,698 vehicles, down 10.66% year-on-year; SAIC Chase sold 11,109 vehicles in July, with a year-on-year growth of 48.85%, and the cumulative sales volume from January to July dropped slightly by 0.32% year-on-year. In the case of a general downward trend in the auto market, it has shown a rising posture against the market.

However, SAIC GM Wuling's sales performance in July still showed no signs of improvement. From January to July this year, its cumulative sales volume was 850,000 units, down 27.8% year-on-year compared with 1.18 million units in the same period last year.

Mainly affected by the slowdown in macroeconomic growth and the switch of the five countries and six standards, the automobile market continued to be depressed. Since September 2018, the sales volume of SAIC Volkswagen, Shanghai GM and SAIC GM Wuling has started to decline at the same time. SAIC Group is also unable to resist the market decline trend. It has to adjust its strategy to actively comply with the policy orientation and launch various preferential car purchase activities to cope with the cold winter of the automobile market.

According to the production and sales data of the past three months, the decline of SAIC Group has gradually stabilized, and the year-on-year decline of individual units such as SAIC Volkswagen, SAIC Passenger Cars, SAIC Datong and Shenwo Bus has narrowed slightly, but overall there is no clear sign of recovery.

In this regard, Chen Hong said, Last year the automobile market appeared 28 years for the first time negative growth, In the first half of this year negative growth expanded, In the short term, The automobile market is an adjustment period, Mainly macro-economic downturn, Sino-US trade friction intensified, Consumption confidence is insufficient, And nearly 30 years of rapid growth of the automobile market brought its own adjustment inherent needs,"This adjustment is needed, There is no need to panic."

Overall, SAIC expects sales in the domestic auto market to range from 25.6 million to 26.7 million this year, down 5-10% year-on-year. Among them, passenger car sales ranged from 21.45 million to 22.3 million, down 6-10% year-on-year; commercial vehicle sales ranged from 4.15 million to 4.4 million, down 1-9%.

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