Chinese automotive manufacturer SAIC Motor’s total sales declined by 10.2pc to 5.6 million vehicles in 2020 compared to 2019.
The firm’s sales in the second half of the year saw a 7.6pc rise compared to the same period in the prior year. From an export standpoint, its sales increased by 11.3pc to 390,000 units last year compared to 2019, while the country saw a 6.2pc drop in export sales last year on an annual basis.
SAIC’s New Energy Vehicle (NEV) sales also surged by 73.4pc to 320,000 units in 2020, making it the No.1 automobile group in China compared to the prior year.
The car manufacturer’s gross revenue fell by 12pc to CNY 742.1bn ($113.4bn) in 2020 annually, while its net profit saw a 20.2pc decline to CNY 20.4bn last year compared to 2019.