saic motor is the largest auto company listed on china's a-share market (stock code: 600104). as a leading auto maker in china, saic motor is striving to lead the industry's development trends, accelerate innovation and transformation, and evolve from a traditional manufacturing enterprise to a comprehensive provider of auto products and mobility services.
currently, saic motor's main businesses cover the r&d, production and sales of both passenger and commercial vehicles. targeting the carbon peaking and carbon neutrality goals, and the new trends in the automotive industry, saic motor has beefed up its efforts to bolster the development of nevs and icvs. saic motor is also engaged in the r&d, production, sales of auto parts, (including power drive systems, chassis, interior and exterior trims, and the core components and smart product systems of nevs such as batteries, electric drives and power electronics), auto-related services such as logistics, e-commerce, energy-saving and charging technology, and mobility services, auto-related finance, insurance and investment, overseas business and international trade, big data and artificial intelligence.
saic motor's subordinate companies include im motors, saic passenger vehicle branch, rising auto, saic volkswagen, saic general motors, saic-gm-wuling, saic maxus, naveco, saic ldt and sunwin.
in 2022, saic motor sold more than 5.3 million vehicles, ranking first in china for 17 years in a row; sales of the carmaker's self-owned brands exceeded 2.78 million units, accounting for 52.5 percent of its total sales; sales of its new energy vehicles (nevs) exceeded 1.07 million units, up 46.5 percent year-on-year; while its overseas sales hit a record high of over 1.01 million units, up 45.9 percent year-on-year, helping it retain the top spot among china's carmakers for seven consecutive years. saic motor became the first chinese carmaker with both its annual nev sales and overseas sales exceeding one million.
in august 2023, business magazine fortune released its latest global 500 list, and saic motor ranked 84th with a total revenue of $110.6 billion, continuing to lead chinese auto companies on the list. saic motor made the list for the first time in 2004, and ranked in the top 100 in 2014. since then, it has remained among the top 100 for ten consecutive years.
looking ahead, saic motor will keep pace with technological progress, market evolution, and industry changes while accelerating its strategy in the fields of electrification, intelligent connectivity, sharing, and globalization. it will not only strive to improve its performance, but also build an innovation chain to upgrade its business, so as to come out on top in the restructuring global automotive industry. the company also plans to accelerate its business transformation and upgrading, and make great strides towards becoming a world-class auto company with international competitiveness and a strong brand influence.
