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2024-10-15 Update From: AutoBeta NAV: AutoBeta > News >
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AutoBeta(AutoBeta.net)09/08 Report--
SAIC has been overtaken by BYD for three consecutive months, and the title of the largest car company in China may be "terminated" next month.
In August, SAIC's wholesale sales were 257600, down 39.146 per cent from a year earlier, while BYD's was 373000, up 35.97 per cent from a year earlier. This is the third consecutive month that BYD has overtaken SAIC. Previous data showed that BYD overtook SAIC by 90900 and 41200 respectively in July and June to become the largest domestic automaker in a single month.
By the end of August, BYD had sold 2.3284 million vehicles, up 29.92 per cent from a year earlier, while SAIC sold 2.3361 million vehicles, down 19.31 per cent from a year earlier. Compared with the previous July sales, BYD's growth rate has increased, while SAIC's decline continues to expand. Under the same growth and decline, the position of SAIC in the domestic market has been seriously threatened. The sales gap between SAIC and BYD is less than 10,000 vehicles. According to the current market performance, BYD was able to overtake SAIC to become the largest automaker in China in September.
With the decline of the market share of the joint venture camp and the disadvantage of its own electrified transformation and other reasons, the joint venture brands of SAIC Group have declined to varying degrees. Among them, SAIC-Volkswagen wholesale sales of 85000 vehicles in August, down 22.75% from a year earlier. SAIC GM has only 15900 vehicles, down 81.98 per cent from a year earlier. However, the above data do not represent the actual performance of the end market, especially SAIC GM, which is in great contrast to retail sales. On the one hand, SAIC GM reduces wholesale in order to reduce inventory for dealers. On the other hand, SAIC GM has to choose to reduce production capacity because of the market challenges faced by SAIC GM.
While the joint venture plate is declining, the performance of the independent plate is not ideal. In August, SAIC wholesale sales of passenger cars were 41800, down 44.67% from a year earlier. In recent years, Roewe, Mingjue and Feifan of SAIC passenger cars have not performed well as independent brands, including BYD, Geely and Chery, have accelerated product layout.
In the past few years, Roewe not only failed to catch up with the dividend of the electrified transformation, but also continued to lose share in the spring tide of the times. Even the newly launched "D Series" D7 double Power and D5X DMH for the new energy track have not caused too much spray in the mainstream sedan chair market for the time being. Although Mingjue has accelerated its layout of overseas markets and achieved good results, its performance in the domestic market is a mess, with only two models in more than 1,000 vehicles, with the lowest selling price of MG5, followed by MG7 launched last year. As for Feifan, there are only two F7 and R7 models on sale, and sales are also ugly.
SAIC Zhiji, a high-end electric brand owned by SAIC, sold 4597 vehicles in August, up 154.96 per cent from a year earlier. Although SAIC Zhiji has achieved substantial growth for many months in a row, the actual volume is not large, and it is unlikely to rely on SAIC Zhiji to fill the gap, especially under the background of the current 200000 yuan electric car market. It can even be said that SAIC Zhiji has not even gained a firm foothold. After all, Xiaomi, which has just been on the market, has sold more than 10,000 cars for three months in a row.
Not long ago, SAIC welcomed the largest high-level change of defense, from SAIC to SAIC Volkswagen, SAIC General Motors, SAIC passenger cars, SAIC GM Wuling, involving as many as 15 senior executives, almost completing a comprehensive coach change from the group to each branch. Whether it is the frequency of change or involving the number of people, positions, in today's automobile industry, it can be said to be the only existence. In addition, according to the Shanghai Automobile News, the party committee of SAIC recently launched five units, namely, SAIC Chase, Anji Logistics, SAIC sales, Global car sharing and Huayu Saikoli, to compete for 25 general manager positions in its enterprises. It is planned to complete the competitive recruitment application, hold a job fair, and complete the cadre appointment and removal procedures by the end of September. In the next stage, on the basis of summing up practical experience, we will expand the scope of competitive employment and gradually form a normalized mechanism.
According to the financial report, SAIC achieved revenue of 284.686 billion yuan in the first half of the year, down 12.82% from the same period last year; net profit from home was 6.628 billion yuan, down 6.45% from the same period last year; and 1.02 billion yuan was deducted from non-net profit, down 82.00% from the same period last year. SAIC said frankly that the decline in the fuel vehicle market and the unprecedented intensity of the "price war" have led to a reduction in the company's sales revenue. Under the continuous influence of the "price war" in the domestic automobile market, the living environment of the joint venture car enterprises of SAIC Group is poor, and the sales volume is declining year by year. As the profit pillar of SAIC, the "decline" of the joint venture has seriously affected the company's performance.
With the decline in the sales of joint venture brands and the high tariff wall built by the European Union on Chinese electric vehicles, how to speed up the rise of independent brands and reduce the pressure on overseas markets, these problems still need to be solved by the new management. It is expected that such a large-scale high-level structure adjustment can, to a certain extent, play a positive role in its innovation transformation and returning to the right track of development.
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