Chinese automaker first to hit 30 million vehicle production milestone

(Dan Tri) - The car manufacturer also sells cars in Vietnam but is still struggling, even though its products are the cheapest on the market.

On January 5, the SAIC-GM-Wuling (SGMW) joint venture officially announced the production of its 30 millionth vehicle - the Wuling Starlight S, becoming the first Chinese automaker to reach this production milestone.

SGMW's 30 millionth car rolls off the production line (Photo: SGMW).

In 2013, SGMW's 10 millionth vehicle rolled off the production line; in 2019, the 20 millionth rolled off the line, and now the 30 millionth milestone.

SGMW also said that new energy vehicles (NEVs) played a key role in helping the company achieve these impressive milestones. Last year, the company launched 10 new energy vehicle models.

SGMW's sales in 2024 will reach 1.54 million vehicles, of which more than 800,000 will be new energy vehicles, accounting for more than half, up 63% year-on-year. By the end of 2024, SGMW's cumulative sales of new energy vehicles will reach more than 2.4 million units.

SGMW is currently the main export unit in SAIC's overseas market expansion strategy. The first country to which this joint venture exported cars was Thailand in 1990, with a batch of 15 mini cars called Z110. Now, SGMW exports cars to nearly 40 markets around the world .

Speaking about future plans, Mr. Zhou Yan, SGMW's director of brand and communications, said that the joint venture will launch a new chassis platform for more expensive models. These new models are expected to be launched in the first half of this year.

Despite its success in the domestic market and ownership of the world's best-selling small electric vehicle, the Wuling Mini EV, SGMW is still struggling in Vietnam.

Wuling Mini EV is the world's best-selling small electric car in 2023, but when it comes to Vietnam, this model still has difficulty succeeding (Photo: Nguyen Lam).

The Wuling Mini EV model will be launched in the Vietnamese market in 2023 with a suggested retail price of VND239-279 million, becoming the cheapest car product in Vietnam but still cannot become a sales phenomenon because for Vietnamese customers, this price is not attractive enough when compared to other cars in terms of equipment.

In early August 2024, the Wuling Mini EV's suggested retail price was adjusted by the distributor to reduce by 58 million VND, down to 197-231 million VND, but it was still not enough to reverse the situation. Many opinions said that the price of this car model should only be at 150-200 million VND.

Besides, this selling price is considered not attractive enough to compensate for the lack of charging infrastructure, making it inconvenient to use as a daily means of transportation in Vietnam.

Source: https://dantri.com.vn/o-to-xe-may/nha-san-xuat-o-to-trung-quoc-dau-tien-dat-moc-san-luong-30-trieu-xe-20250106155205316.htm