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· SAIC Motor climbs Fortune 500 list to 46th
· Continued growth predicted for 2017 with new offices opening in GCC
Dubai - Nearly twelve months on from the opening of its regional headquarters, SAIC Motor has enjoyed a boost in sales and is set to expand its presence in the Middle East as it looks to enhance its sales network and structure. The automotive manufacturer, whose affiliated companies include Morris Garages (MG), Maxus, Shanghai Volkswagen, SAIC-GM and Shanghai General Motors Wuling (SGMW), has also forecast a doubling of sales for the region in 2017.
Building on its strong global growth in recent years, SAIC Motor has invested in the Middle East to enhance its operational and sales structures. It opened its Middle East Headquarters in Dubai’s Jebel Ali Free Zone in November 2015 to serve its ambition to expand market share in the region for its brands MG, the much-loved British marque. This has served to deliver regional sales growth of 30% since the offices were established despite challenging economic conditions.
With new models launched over the last 12 months and further additions to the model ranges planned for 2017, the regional headquarters have forecasted sales growth of 100% for 2017. To support this, and as part of its ongoing investment in the region, SAIC Motor plans to open two new operations offices in key GCC markets that will focus on business development, helping its brands to bolster market share.
The positive results in the Middle East reflect the auto manufacturer’s progress globally with January to September sales volumes of 4,482,129 which is up 8.42% compared with the same period in 2015. SAIC Motor now ranks as one of the world’s biggest companies as its ranking on the annual Fortune Global 500 list improved to 46th following increased operating income.
Commenting on the recent sales figures and regional expansion, Sun Guang, General Manager of SAIC Motor Middle East, said “The growth that we have enjoyed globally this year is most welcome and is a result of our continuous innovation when it comes to products and services. This has meant that, year after year, we have climbed the Fortune 500 list. Just eight years ago, we were 373rd but we are now one of the 50 biggest global companies.
“It is this consistent success that gave us the basis to extend our operations to the Middle East. The regional investment we have made in the last 12 months and the business development teams who will soon be in place in key GCC markets means that, going forward, we are well placed to launch new models across the region. We have an exciting time ahead in the Middle East.”
SAIC Motor has established itself worldwide, with facilities specializing in R&D, sales, production, financing and investment, and international trade as well as 73 spare parts plants outside of China, its primary market. It has recently expanded its global supply chain having built a plant in Thailand to produce MG right-hand-drive models and started construction of a SAIC GM Wuling plant in Indonesia in 2015 which is expected to start production in 2017.
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About SAIC MOTOR Corporation Limited (SAIC MOTOR)
SAIC MOTOR Corporation Limited (SAIC MOTOR) is the listed automotive company on China's A-share market with the largest market value. SAIC MOTOR's business covers research, production and sales of vehicles and accessories. It also covers the automobile service and trade businesses including logistics, vehicle telematics and second-hand vehicle transactions, as well as auto finance services.
SAIC's affiliated vehicle companies include SAIC MOTOR Passenger Vehicle Branch, SAIC MOTOR Commercial Vehicle Co, Shanghai Volkswagen, SAIC-GM, Shanghai General Motors Wuling (SGMW), NAVECO, SAIC-IVECO Hongyan and Shanghai Sunwin Bus Corp (SUNWIN).
SAIC MOTOR recorded car sales of 5.9 million units in 2015, maintaining the company’s position as the number one biggest seller in the Chinese automobile market for the 10th consecutive year. This year, SAIC MOTOR was ranked in 1st place among the Top 100 Shanghai Enterprises of 2015 and was included in the Fortune Global 500 list for the 12th time with a ranking rise of 14 places to the 46th. It had a combined sales revenue of $106,684 million in 2015. In the 1st half of 2016, SAIC MOTOR sold 3 million vehicles manufactured in China, accounting for 22.8 percent market share.
For further information, please contact:
Katy Pearce
Performance Communications
Tel: +971 (0) 4 551 5472
Mob: +971 (0) 52 926 2198
Email: katy@performancecomms.com
Elyes Bouzekri
Performance Communications
Tel: +971 (0) 4 551 5472
Email: elyes@performancecomms.com
Hibaq Basser
SAIC MOTOR Middle East FZE
Tel: +971 (0) 4 8876966
Mob: +971 (0) 50 9602091
Email: hibaq@saicservice.com
© Press Release 2016
