SAIC MOTOR(SH:600104) Yang Shi Wang·2025-12-04 07:20Core Insights - SAIC Motor Corporation reported a total vehicle sales of 4.108 million units from January to November, representing a year-on-year increase of 16.4%, surpassing last year's total sales [1] - The company's self-owned brand sales reached 2.666 million units, up 25.7% year-on-year, while new energy vehicle sales hit 1.499 million units, growing by 38.8% [1] - Sales in overseas markets amounted to 969,000 units, reflecting a 3.4% increase year-on-year, indicating strong performance in international markets [1] Self-Owned Brand Performance - In November, SAIC's self-owned brand sales reached 316,000 units, a 9.5% increase year-on-year, contributing to a total of 2.666 million units sold from January to November, which accounted for 64.9% of total sales, an increase of 4.8 percentage points from the previous year [3] - Passenger vehicle sales exceeded 100,000 units in November, marking a significant 36.4% year-on-year growth, with domestic market sales soaring by 97.6% [3] - SAIC Maxus sold 24,000 units, reflecting an 81.3% increase, while SAIC-GM-Wuling maintained its leading position in key market segments with sales of 166,000 units [3] New Energy Vehicle Sales - In November, SAIC sold 209,000 new energy vehicles, achieving a historical high for the third consecutive month, with a year-on-year growth of 19.7% [4] - Cumulatively, 1.499 million new energy vehicles were sold from January to November, representing a 38.8% increase [4] - The sales of the new generation of models, including the intelligent LS6 and LS9, have been strong, with the new MG4 semi-solid battery version set to begin deliveries in December [4] Overseas Market Performance - In November, overseas sales reached 107,000 units, a 13.9% increase year-on-year, with total sales of 969,000 units from January to November, up 3.4% [5] - The MG brand has become a leading Chinese brand in the European market, with cumulative deliveries of 285,000 units this year, reflecting a growth of over 25% [5] - Notable sales growth was observed in Spain (58.48%), France (57.49%), and Poland (138.29%), with MG electric vehicles achieving a historical cumulative sales milestone of over 100,000 units in the UK [5] Future Outlook - SAIC is focusing on building a more flexible and efficient operational mechanism, accelerating its transformation and upgrade processes [5] - The company aims to leverage innovations in solid-state batteries, digital chassis, efficient powertrains, intelligent driving, and smart cabins to enhance user experience and establish itself as a globally competitive automotive group [5]