SAIC Motor reports sales decline in the first quarter of 2020

SAIC Motor reports sales decline in the first quarter of 2020

April 12, 2020 0 By autotimesnews

The Chinese automaker summed up the first three months of 2020, which were marked by a difficult economic situation due to the consequences of the coronavirus.

Chinese SAIC Motor reported a drop in sales in the first quarter of this year. From January to March, the brand sold 679,028 of its cars, which indicates a more than 55 percent decline in demand. Such information on Sunday, April 12, publishes the Xinhua News Agency. It is noted that the negative dynamics in the reporting months was observed at all three joint ventures of the Chinese company. These are Volkswagen SAIC, SAIC-GM and Shanghai General Motors Wuling – by 60.89%, 58.03% and 61.53% respectively.

 The volumes of production of SAIC cars also dipped: in the three months of 2020, the automaker produced 657,422 copies of its cars, which is 56.87% lower than last year.

 In general, according to estimates by the China Automobile Industry Association, in the first quarter of this year, machine production in the Celestial Empire reached 3.47 million units (-45.2%). Car sales in the Chinese car market amounted to 3.67 million units – a decline in demand by 42.4%.