For Chinese car brands, they are also coveting overseas markets despite enjoying huge domestic consumption potential.
SAIC Motor, China’s largest home-grown automaker, aims to sell 550,000 units in overseas markets this year, Yu De, assistant president and general manager of SAIC's international business, said on July 13, adding that the target is 1.5 million units by 2025.
From 2016 to 2020, SAIC's overseas sales were 129,000, 170,000, 277,000, 350,000 and 390,000 units, respectively.
If the company meets this year's overseas sales target, it would mean a 41 percent year-over-year increase.
From January to June this year, SAIC's overseas retail sales reached 265,000 units, up 112.8 percent year-over-year.
Among them, SAIC's own brand overseas sales were 166,000 units, up 132 percent year-over-year, accounting for more than 60 percent of the group's overall overseas sales.
At present, SAIC products and services have entered more than 70 countries and regions around the world, with more than 1,000 overseas marketing and service outlets.
In the first six months of this year, SAIC's cumulative sales volume was 2,297,000 units, up 12.11 percent year-over-year and down 13 percentage points from January to May.
Overseas retail sales of SAICMG brand exceeded 136,000 units, an increase of 130 percent year-over-year.
In mature markets, SAIC focuses on selling electric vehicles. In emerging markets, the company is focused on exploring differentiated smart network technologies.
Its "i-Smart" intelligent network system is already used in more than 30 overseas models, with more than 100,000 active users, and will be rolled out to developed markets in the future, the company said.
For Chinese automakers, the European market is an opportunity, with about 25 percent of vehicles in France expected to come from China in the future, Yu said.
In June this year, Chinese auto companies exported 158,000 vehicles, up 5.0 percent from the previous month and up 154.5 percent year-over-year, according to data from the China Association of Automobile Manufacturers.
From January to June this year, China exported 828,000 vehicles, up 1.1 times year-over-year, again setting a new historical record.
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