SAIC MOTOR(SH:600104) Jing Ji Guan Cha Wang·2025-11-02 07:58Core Insights - Shanghai Automotive Group reported a significant increase in vehicle sales, with October sales reaching 454,000 units, a year-on-year growth of 13%, marking ten consecutive months of growth [1] - The company achieved cumulative wholesale sales of 3.647 million units from January to October, reflecting a year-on-year increase of 19.5% [1] Domestic Sales Performance - In the self-owned brand segment, October sales reached 306,000 units, up 22% year-on-year, with cumulative sales of 2.35 million units, a substantial increase of 28.3%, accounting for 64.4% of total sales [1] - Passenger vehicle sales for the company were 93,000 units in October, showing a growth of 25.1% [1] - Sales for SAIC Maxus approached 20,000 units, with a remarkable growth of 47.9% [1] - SAIC-GM-Wuling recorded sales of 168,000 units, representing a year-on-year increase of 19.5% [1] New Energy Vehicle (NEV) Performance - The new energy vehicle segment set a new record with sales of 207,000 units in October, a year-on-year increase of 31.6%, continuing a trend of historical highs for two consecutive months [1] - Cumulative sales of new energy vehicles from January to October reached 1.29 million units, reflecting a growth of 42.5% [1] - Sales of the Zhiji Auto brand reached 13,000 units in October, with the main model LS6 maintaining strong sales [1] - SAIC's passenger vehicle new energy sales were 37,000 units, showing an increase of over 150% year-on-year [1] - Both SAIC-GM and Wuling's new energy businesses also achieved double-digit growth [1] Export Performance - In October, SAIC exported 97,000 vehicles, with cumulative exports for the first ten months reaching 862,000 units, a year-on-year growth of 2.2% [2] - The MG brand performed strongly in Europe, with double-digit growth recorded in key markets such as the UK, France, and Italy, and a remarkable growth of over six times in the Swiss market [2] - The MG Hybrid+ series, equipped with a new hybrid system, is becoming a key sales driver in Europe [2]