SAIC Group's joint venture brands' sales volume declines, fuel vehicle market faces pressure

SAIC Motor's sales decline was mainly affected by the overall poor performance of its joint venture brands. In 2024, SAIC Motor's three joint venture brands - SAIC Volkswagen, SAIC GM and SAIC-GM-Wuling - all experienced varying degrees of sales decline. SAIC Volkswagen's sales were 1.1481 million vehicles, a year-on-year decrease of 5.51%; SAIC GM's sales were 435,000 vehicles, a year-on-year decrease of 56.54%; SAIC-GM-Wuling's sales were 1.3401 million vehicles, a year-on-year decrease of 4.49%.