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Sales increase by double digits over the same period last year! Get on the bus and change the coach.

2024-04-24 Update From: AutoBeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)03/03 Report--

On January 11, SAIC announced that Wu Bing, vice president of SAIC, will no longer serve concurrently as general manager of Shanghai Automobile Branch and CEO of Feifan Automobile, and the related position will be taken over by Wang Jun, former general manager of Huayu Automobile.

On the same day, Huayu Automobile announced that due to job transfer, Wang Jun applied to resign as general manager of the company, and at the same time resigned as a director of the 10th board of directors and a member of the strategic committee of the board of directors. Ma Zhengang applied to resign as deputy general manager of the company. Nominated by the company's board of directors, examined and approved by the company's board of directors, the company's board of directors agreed to appoint Tao Hailong as general manager and Bu Xinwen as deputy general manager of the company.

According to public data, Wu Bing was the director of the network development and training division of Shanghai GM, the head of the Chevrolet Marketing Department, the CEO of SAIC Insurance, the CEO of Hengdao Travel, the CEO of Feifan Automobile, and the general manager of the SAIC passenger car branch. In December 2023, Wu Bingsheng became vice president of SAIC and will be in charge of SAIC's mobile travel and service business.

His successor, Wang Jun, was born in 1966 and served as SAIC-Volkswagen Planning Department Manager, SAIC-Volkswagen Planning Department Assistant Manager, SAIC passenger car Branch Deputy General Manager and Manufacturing Department Executive Director, SAIC Group quality and Economic Operations Department Executive Director, SAIC Strategic Research and knowledge Information Center General Manager and data Business General Manager, General Manager of Huayu Sandian Automobile Air conditioning Co., Ltd. General Manager of Huayu Automotive Systems Co., Ltd.

On January 5, SAIC announced sales of 5.0209 million vehicles from January to December 2023, down 5.31% from a year earlier, according to KuaiBao. Among them, the cumulative sales of new energy vehicles were 1.1229 million, an increase of 4.61% over the same period last year. It is understood that SAIC plans to strive for full-year vehicle sales to reach 6 million units in 2023, an increase of more than 10% over the same period last year, and actually achieve only 83.68% of the sales target, nearly 1 million vehicles short of the target.

It is understood that SAIC Group includes three major joint ventures of SAIC-Volkswagen, SAIC-GM and SAIC-GM Wuling, as well as SAIC passenger cars, SAIC Chase, and SAIC Zhiji. The performance of joint venture brand and independent brand is polarized. Among the joint venture brands, SAIC-Volkswagen sold 1.215 million vehicles, down 8.01 per cent from a year earlier, while SAIC GM sold 1.001 million vehicles, down 14.45 per cent from a year earlier. Among independent brands, SAIC passenger car sales (including Mingjue / Feifan / Roewe) increased by 17.50% to 986000 compared with the same period last year, including 738200 Mingjue and 226200 Roewe.

Even so, the joint venture brand is still SAIC's main source of sales. According to Automotive Industry concern, SAIC-Volkswagen, SAIC-GM and SAIC-GM Wuling account for 72% of the group's total sales, while SAIC passenger cars account for 19.63%. Of course, although the joint venture brand is still the main source of sales of SAIC, the share of the joint venture brand has begun to shrink, and its fuel vehicle market has been eroded by the new energy vehicle market. Admittedly, SAIC's future growth will come from its own brands, with double-digit sales growth for both SAIC cars and SAIC Zhiji.

Under the pressure of sales, SAIC is also facing a lot of pressure in terms of financial results. At present, SAIC is in a critical stage of electric transformation. according to the "three-year Action Plan for the Development of New Energy vehicles" released by SAIC at the Shanghai Auto Show this year, SAIC will sell 3.5 million new energy vehicles annually by 2025. Among them, independent brands will account for 70% of the total sales of new energy vehicles. From the current analysis, although SAIC has invested a lot of resources in Zhiji and Feifan brands, there is still a long way to go to achieve blood recovery.

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