November 2020.- After a year marked by the pandemic, October’s figures for the automotive industry are positive. According to the latest ANAC report, October ended with an increase in sales of 29,3% compared to the same month last year.
“We were confident that as more places came out of quarantine and the stores reopened with the corresponding security measures, we were seeing a reactivation of the automotive market. Especially because people are looking to move around safely and buying a vehicle gives them that ability,” says Germán Zapata, Senior Sales & Country Manager of SAIC Motor, manufacturer of MG Motor.
According to the company’s latest report, internationally, SAIC Motor, owner of MG Motor, reports a good third quarter. In the July-September period, the brand sold 1,564 million vehicles, a growth of 5,9%. So far this year, the manufacturer has sold 3,613 million units.
The company’s revenue and net profits were 498,660 million yuan and 16,650 million yuan, respectively, making them leaders in the automotive industry.
Furthermore, SAIC Motor’s R&D expenses reached 8,900 million yuan ranking it far ahead of its domestic peers. Thanks to its long-term strategy and consistent efforts, the company has developed environmentally friendly engines for the market.
The company’s sales of new energy vehicles in the third quarter rose 105% year-on-year to 86,000 units. Its sales in overseas markets reached 89,000, which contributed to maintaining its leadership among automakers of that origin, with the MG ZS EV as one of its most successful models.