SAIC Motor makes its 15th consecutive appearance on the Fortune 500 list

SAIC Motor has been featured in the Fortune 500 companies list for the 15^th straight year. The company was ranked 39th on the prestigious list in 2019, and was ranked 7th amongst all automotive manufacturers.

In 2018, SAIC Motor had posted a total sales revenue of USD 136.39 billion and new car sales of 7.052 million units. During a period when most automotive manufacturers experienced a slump, SAIC registered a 1.8 percent increase on the previous year, thus further expanding its lead in the domestic market. In 2018, SAIC Motor exported and sold 277,000 vehicles to overseas markets; a year-on-year increase of 62.5 percent.

SAIC’s home market of China has experienced a slowdown in automotive sales, but SAIC Motor is doing its best to consolidate its market share by closely monitoring the ever changing trends in the global auto industry, especially in the fields of electrification, intelligent connectivity, sharing and globalization.

In the first half of 2019, SAIC Motor achieved sales of 82,000 units of new energy vehicles, which was a 42 percent increase on the previous year’s figures. Hydrogen fuel cell vehicles were used over a distance of over 2.1 million kilometers. Other achievements included the launch of the first ‘internet car’ in the world. The 5G-enabled screenless smart cockpit, which SAIC developed in collaboration with Huawei and China Mobile will be available at the retail level 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 that to be featured in The Fortune 500 list for the 15th straight year was an achievement that highlighted SAIC Motor’s position as a major player on the global automotive stage.

Lee added, “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 has been expanding its presence in the Middle East after it established its headquarters in Dubai in November 2015. Under the umbrella of the MG Motor brand, the company plans to launch a new range of premium high-end economy vehicles, including the MG RX5, MG ZS and MG 6 2019 as well as the MG 5 is slated to be added soon to the SUV range with two other SUV models. MG Motor has also expanded its distribution network within the region with 21 showrooms and 21 service centres across the Middle East.