2024年年报中，上汽集团定下目标：2025年整车销量超过450万辆，营业总收入超过6740亿元，营业成 本在6000亿元左右，全面完成年度目标任务。 长江商报消息 "2025年整车销量超过450万辆。"这是上汽集团（600104）(600104.SH)2025年的目标，如今兑现了吗？ 1月5日，上汽集团发布产销快报，集团2025年销量达450.75万辆，同比增长12.32%，完成了既定目标。 上汽集团介绍，2025年，集团自主品牌销量达292.8万辆，同比增长21.6%，在集团整体销量中的占比达 65%，较2024年提高5个百分点，在竞逐智电新赛道的关键阶段，自主品牌成为集团创新发展的"主力 军"和"急先锋"。 2025年，上汽集团新能源汽车销量涨幅较大，全年售车164.28万辆，同比增长33.12%。其中，智己汽车 全年销量达8.1万辆，同比增长23.68%。 值得注意的是，2025年，上汽集团海外市场销量达107.1万辆，同比增长3.1%，在行业中继续名列前 茅。这一年，该集团还正式发布海外战略3.0—Glocal战略，即"全球+本土"的组合战略，积极打造本地 化体系生态和全球汽车品牌，推动从"产品出海 ...

Core Viewpoint - SAIC Motor Corporation is expected to rebound in sales after a low point in 2024, with a target of exceeding 4.5 million vehicle sales in 2025, supported by strong performance in its self-owned and new energy vehicle segments [2][10][11]. Sales Performance - In the first seven months of 2025, SAIC Motor achieved cumulative vehicle sales of 2.39 million units, a year-on-year increase of 15% [4][10]. - The company's self-owned brand sales reached 1.518 million units, up 23.3% year-on-year, accounting for 63.5% of total sales, an increase of 4.3 percentage points from the previous year [4][5]. - New energy vehicle sales for the first seven months totaled 764,000 units, reflecting a growth of 43.5%, outpacing the overall market growth [5][10]. Monthly Sales Trends - In July 2025, SAIC sold 338,000 vehicles, marking a 34.2% increase year-on-year, achieving seven consecutive months of year-on-year sales growth [4][10]. - Self-owned brand sales in July reached 214,000 units, a 39.4% increase, with significant growth in domestic market sales [4][5]. New Energy Vehicle Growth - July 2025 saw new energy vehicle sales of 117,000 units, a 64.9% increase year-on-year, with various models contributing to this growth [5][10]. - The company’s joint venture brands also experienced a rebound, with a 26.1% year-on-year increase in sales [5]. International Market Performance - SAIC Motor has established a strong presence in over 170 countries, with cumulative overseas sales exceeding 6 million units [6]. - In Europe, the MG brand achieved nearly 180,000 deliveries in the first seven months of 2025, demonstrating double-digit growth [6]. Future Product Launches - Upcoming models, including the first vehicle from the SAIC-Huawei collaboration, the Shangjie H5, are anticipated to drive further sales growth [8][9]. - The company is investing significantly in production capabilities, with a dedicated team and substantial financial resources allocated for the Shangjie brand [9]. Financial Goals - For 2025, SAIC Motor aims for total vehicle sales exceeding 4.5 million units and revenue surpassing 674 billion yuan, with a cost target around 600 billion yuan [10][11]. - The company’s sales growth target for 2025 is set at 12.14%, with a revenue increase goal of 7.39% [11].

Core Insights - Shanghai Automotive Group Co., Ltd. reported a total vehicle sales of 338,000 units in July, marking a year-on-year increase of 34.2%, achieving seven consecutive months of growth [1] - Cumulative sales from January to July reached 2.39 million units, representing a year-on-year growth of 15%, with retail deliveries totaling 2.567 million units [1] Group 1: Sales Performance - The self-owned and new energy segments have become the main growth drivers for the company [1] - In July, sales of self-owned brands reached 214,000 units, up 39.4% year-on-year, while new energy vehicle sales hit 117,000 units, a 64.9% increase [1] - From January to July, self-owned brand sales totaled 1.518 million units, accounting for 63.5% of total sales, an increase of 4.3 percentage points year-on-year [1] Group 2: Joint Venture and Overseas Market - Joint venture brands also showed signs of stabilization, with July sales increasing by 26.1% year-on-year [1] - The company anticipates that the launch of new models such as the SAIC Audi A5L Sportback and Buick "Zhijing" will usher in a "Joint Venture 2.0" phase [1] - In July, overseas sales reached 82,000 units, with the MG brand delivering nearly 180,000 units in Europe in the first seven months, achieving double-digit growth [1]