SAIC-GM-Wuling (SGMW), a major Chinese automobile manufacturer, reported strong vehicle sales in the first six months of 2021, the company said. SAIC-GM-Wuling Automobile has officially announced that its electric vehicle sales have exceeded 884,000 in the first six months of 2021. Sales were up 39.5% over the same period last year. The company also posted sales growth for fifteen consecutive months.
Last year, the global electric vehicle market saw a decline in sales due to the coronavirus pandemic and global chip shortages. The global electric vehicle market has begun to recover from last year’s downturn as more people choose green electric vehicles.
The bulk of electric vehicle sales for SAIC-GM-Wuling Automobile came from the Wuling brand (693,351 units), while the Baojun brand increased sales by 123,057 units in the first half of 2021. The company also reported total exports of 74,225 vehicles and recorded growth for six straight months of the year.
SAIC-GM-Wuling is performing well in China, the largest and fastest growing electric vehicle market in the world. The company successfully pushes against Tesla as its vehicles are significantly cheaper than Tesla’s. The data shows that Wuling’s Hongguang MINIEV continues to be the most popular, with the brand selling 182,767 units in the first half of the year, or 1,000 vehicles per day on average.
Tesla yesterday released its financial statements, which showed that the American company sold about 200,000 electric vehicles in the second quarter of this year and generated more than a billion dollars in net profit.
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