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Chinese carmaker SAIC Motor expects to export 1.2 million vehicles in 2023 as MG brand ‘revival’ fuels 20% rise

  • ‘The revival of the MG brand shows China’s rising manufacturing might in the automotive sector,’ analyst says
  • As mainland China’s largest exporter, SAIC is leading the country’s push to overtake Japan in annual car exports this year

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MG4 electric vehicles sit in a lot at Port Kembla vehicle terminal in Port Kembla, Australia, on September 2, 2023, following import from China. Photo: Bloomberg
Daniel Renin Shanghai
SAIC Motor, the Chinese partner of Volkswagen and General Motors, has issued a bullish forecast for its overseas sales this year after the mainland’s largest carmaker ordered 12 large ships to reinforce its export capacity.

The Shanghai-based company will ship 1.2 million vehicles abroad in 2023, up nearly 20 per cent from last year’s 1.02 million units, it said in a statement on WeChat on Tuesday evening.

The surge, spurred by the increasing popularity of SAIC’s MG brand in markets like Europe and Australia, will generate “large-scale profits”, giving the company a new growth engine amid its go-global strategy, it said.

As mainland China’s largest exporter, SAIC is leading the country’s push to overtake Japan in annual car exports – a change that analysts expect to happen this year.

MG ZS SUVs come off the Dugong Ace car carrier ship at Port Kembla vehicle terminal in Port Kembla, Australia, on September 2, 2023. Photo: Bloomberg
MG ZS SUVs come off the Dugong Ace car carrier ship at Port Kembla vehicle terminal in Port Kembla, Australia, on September 2, 2023. Photo: Bloomberg

SAIC’s exports increased 26.4 per cent year on year in the January-to-August period to 733,140 units. In August alone, it exported 102,646 vehicles, a 1.8 per cent increase from the same period last year. SAIC did not break down the export figures for its different models.

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