Passenger Vehicles "Running Together" with SAIC Motors

2009 is the year of the Chinese auto industry's bumper harvest. Shanghai Automotive announced today that Shanghai Automotive sold 2,724,600 total vehicles in 2009, an increase of 57% year-on-year, including 1.6 million passenger vehicle sales, an increase of 57% year-on-year, and 1.12 million commercial vehicle sales, an increase of 58% year-on-year. In the same period, the company produced a total of 2,762,600 vehicles, an increase of 61.88% year-on-year.

Although Shanghai Automotive did not announce its profit growth in 2009, sales and profit growth in 2009 was a foregone conclusion. According to the company, the sales increase stems from "grasping the growth opportunities brought about by the national stimulus policies such as a halving of the purchase tax and the automobile to the countryside." SAIC 's subsidiaries maintained its leading position in the industry. For example, Shanghai Volkswagen sold 728,000 units of vehicles, an increase of 48.6% year-on-year; Shanghai GM's annual sales reached 727,000 units, an increase of 58.7% year-on-year; SAIC-GM-Wuling sold 1,065,000 units. The year-on-year increase of 63.7%. The increase in profits was due to the sales of new mid-to-high-end vehicles. The sales volume of mid-to-high-end models, such as new Regal, Xinlingyu, Xinjunyue, Haorui, etc., increased and profitability improved. In addition, Shanghai Auto’s own-brand passenger cars entered the payback period. In 2009, sales of its own-brand passenger cars reached 90,000 units, a year-on-year increase of 153%, and the entire vehicle manufacturing segment has achieved profitability.

According to industry forecasts, the total domestic automobile market demand in 2010 is expected to reach approximately 14.9 million vehicles, which is an increase of approximately 10% over the same period of the previous year. Among them, the number of passenger vehicles is approximately 9.5 million, an increase of approximately 14% year-on-year; commercial vehicles are approximately 5.4 million vehicles. , an increase of about 3% year-on-year. Shanghai Automotive stated that in the context of the industry's growth, the company will continue to maintain high growth in 2010. It plans to sell more than 3 million vehicles in 2010, including sales of self-owned brands that have doubled to 180,000 units.

It is reported that in 2010 Shanghai Automotive will expand new energy vehicles and overseas markets on the basis of traditional businesses. At the 2010 World Expo, Shanghai Automotive will provide nearly a thousand new energy vehicles . In accordance with its new energy vehicle industrialization development goal, in 2010, the Roewe 750 hybrid hybrid car with 20% fuel economy will be put on the market; in 2012, the Roewe 550 plug-in strong-mix car and pure electric vehicle with more than 50% fuel efficiency The car will also be on sale. In order to ensure the realization of the goal, in 2009 the Shanghai Automotive Industry Co., Ltd. tackled the bottleneck of “battery + motor + electronic control”. At present, a key component system for new energy vehicles has been initially established.

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