Anji Logistics' cargo ships under the flag of SAIC (Source: SAIC Group)

  According to a report by the China Association of Automobile Manufacturers (CAAM), Chinese auto exports in the January through October period of 2024 grew 23.8% year-over-year (y/y) to 4.855 million units. In particular, the number of exported passenger cars increased by 24.0% y/y to 4.1 million units. This report covers the recent overseas developments of SAIC Motor Corp., Ltd. (SAIC) and Great Wall Motor Company Limited (GWM).

  In 2023, the SAIC Group exported 1.208 million units, of which 24% were NEVs (New Energy Vehicles). The company has set a target of 1.35 million units for overseas sales in 2024 and 1.5 million units in 2025. According to an announcement by SAIC, 908,000 vehicles were delivered in overseas markets from January to October 2024. SAIC has products and services in 100 countries and regions, and has three overseas assembly plants for finished vehicles and one KD plant, as well as manufacturing sites for its suppliers and sales networks. SAIC’s Anji Logistics owns the largest fleet of car carriers in China, and plans to add 14 more overseas carriers over the next three years. In addition, the “IM” premium electric vehicle brand Zhiji Motor Technology Co., Ltd. (IM Motors) has developed a global strategy and entered many markets in 2024. In 2025, the company plans to further increase the number of sites to which it plans to expand. Furthermore, SAIC plans to launch 14 new smart EV models worldwide by 2025.

  Great Wall Motor's exports in January-October 2024 increased 56.3% y/y to more than 320,000 units. According to MarkLines data, GWM’s average monthly volume is over 30,000 units, already exceeding the export volume for the full year of 2023. The company's sales network covers more than 170 countries, with more than 1,000 overseas sales dealerships. In Southeast Asia, the company plans to start local production of EVs in Thailand and CKD production in Malaysia. The company also plans to enter Mexico and launch compact EVs in stages. As for Europe, the European headquarters in Munich was closed due to sluggish sales and additional tariffs on Chinese-made EVs. On the other hand, GWM is strengthening its presence in the Russian market.

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