Motors Tracker

SAIC Motor’s sales were up 4 percent year on year in July, marking the third month in a row that China’s biggest automaker saw growth despite the challenges posed by the Covid-19 pandemic. SAIC sold 457,558 vehicles in July, according to data released by the Shanghai-based firm today. One of its joint ventures with the US’ General Motors spearheaded the gains, with SAIC-GM-Wuling shifting 130,000 autos, almost 20 percent more than the same period last year. Its JV with Germany’s Volkswagen, however, saw sales drop 7.6 percent to 134,000 vehicles. Production was cranked up by 23 percent in July from the same period last year, with the automaker churning out 474,581 units that month.

SAIC Motor said today that  it will not be buying a controlling stake in China Auto Rental due to newly emerged circumstances. “ What we focus is not only acquiring the firm but also its operations after the acquisition is completed. We terminated the transaction in time to protect our shareholder ’ s interest， ”  said Chen Hong, chairman of SAIC Motor in a shareholder ’ s meeting today.  A few hours later, the parent firm of China Auto Rental said it is to sell no more than 443 million shares worth HKD1.37 billion to a unit of BAIC. The Beijing-based car-maker is expected to hold 20.87 percent of the car rental firm after the acquisition is completed. For automakers, having a ride-hailing or rental platform on the side is becoming an important driver of sales,  said  Zeng Zhiling, general manager of LMC Automotive Consulting . China Car Rental ’ s revenue was CNY1.325 million in the first quarter, a decrease of 28.3 percent, and its net losses amounted to CNY18...

China Baowu Steel Group and SAIC Motor penned a comprehensive cooperation framework agreement yesterday to broaden their cooperation in comprehensive solutions for automotive materials, hydrogen energy utilization and industrial finance, SAIC announced on its WeChat account yesterday. The two Shanghai-based companies will jointly build a national-level hydrogen energy industry demonstration zone and 10 to 20 hydrogen stations in the enclave by 2025, per the agreement. Baowu will bring to bear its hydrogen energy industry chain advantages and provide guarantees and services for SAIC’s hydrogen consumption divisions, including research and development of fuel cell stacks, systems and car rentals. It will also provide SAIC with or coordinate specific scenarios for fuel cell vehicle pilots and supply supporting facilities that include the hydrogen energy re-filling facilities required for vehicle operation. SAIC will take charge of the R&D of fuel cell vehicles and mass production plan...

The joint venture between SAIC Motor and German auto giant Volkswagen Group will soon start to produce Audi-branded cars. “Volkswagen and its Chinese joint venture partner SAIC Motor plan to invest CNY4.13 billion (USD590 million) to revamp their car plants in Shanghai to make new Audi sedans,” according to a Reuters report published today that cited a government document. The SAIC-Audi project is proceeding as planned, online news outlet The Paper reported, citing Audi China, the wholly owned unit of German luxury carmaker Audi, and SAIC Volkswagen, the joint venture between Audi’s parent firm Volkswagen and SAIC. The matter is sensitive. Volkswagen’s China-made Audi vehicles are mainly produced by another JV, Changchun, Jilin province-based FAW Volkswagen, which is not in favor of the deal. When the SAIC-Audi project was first broached in November 2016, it was met by a storm of criticism and had to be shelved. SAIC Volkswagen so far only produces the Volkwagen and Skoda marques. It w...