SAIC Motor makes its 15th consecutive appearance on the Fortune 500 List
(4th August 2019, Middle East) SAIC Motor has been ranked 39th on the prestigious Fortune 500 companies list of 2019, and placed 7th amongst all automotive manufacturers, marking its 15th consecutive appearance in the prestigious index.
In 2018, SAIC Motor posted a total sales revenue of 136.39 billion US Dollars and new car sales of 7.052 million units, resulting in a 1.8 percent increase on the previous year, further expanding its lead in the domestic market. Last year, SAIC Motor exported and sold 277,000 vehicles to overseas markets; a year-on-year increase of 62.5 percent.
Whilst the Chinese auto market is experiencing a challenging climate, SAIC Motor is striving to consolidate its market share by paying close attention to the ever changing trends in the global auto industry, in particular in the fields of, electrification, intelligent connectivity, sharing and globalization.
SAIC Motor’s new energy vehicle sales reached 82,000 units in H1 2019; a 42 percent increase on the previous year. Hydrogen fuel cell vehicles ran over 2.1 million kilometres and other breakthroughs included the launch of the world's first ‘internet car’. The 5G-enabled screenless smart cockpit, co-development with Huawei and China Mobile will go on sale in China this year.
SAIC Motor also established a joint venture in manufacturing with Mansour Automotive Group in Egypt as part of its efforts to enter the African market.
Commenting on the results, Tom Lee, SAIC Motor Middle East Managing Director, said: “To be featured in The Fortune 500 list for the 15th consecutive year cements SAIC Motor’s position as a major player on the global automotive stage. With export sales growing, the Middle East market will continue to become one of the most important international markets for SAIC Motor. We will continue to invest in the development of new-energy cars, hyper-connected vehicles and automated driving experiences to enhance our footprint globally and regionally. Our aim is to become a world leader in innovation.’’
SAIC Motor is expanding its presence in the Middle East since opening its headquarters in Dubai in November 2015. Today, under the MG Motor brand, the company has a new line-up of premium high-end economy vehicles, including the MG RX5, MG ZS and MG 6 2019 as well as the MG 5 that is soon to be added along with two more SUV’s to the line-up. MG Motor has also expanded its distribution network within the region with 21 showrooms and 21 service centres across the Middle East.