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[YesAuto News] On August 30, SAIC Motor (600104.SH) released the 2018 semi-annual report. The semi-annual report shows that SAIC Group's net profit reached 18.982 billion yuan, a year-on-year increase of 18.95%, and its cumulative sales volume was 3.523 million vehicles, a year-on-year increase of 11%. Among them, 3.081 million passenger vehicles were sold, and 442,000 commercial vehicles were sold. In the first half of the year, the company exported 130,000 vehicles and sold overseas, a year-on-year increase of 104%.

In the first half of the year, SAIC Group had a relatively high sales growth in its self-owned segment. The cumulative sales of self-owned brand passenger vehicles reached 359,000, a year-on-year increase of 53.7%, of which Internet vehicles accounted for 40%. SAIC's passenger car ranks fourth in the sales ranking of its own brands, and the top three are Geely, Changan, and Great Wall respectively.

Counting the joint venture brands, SAIC ranks first overall. Among the joint ventures, SAIC-GM-Wuling and SAIC-Volkswagen both sold more than 1 million vehicles. SAIC-GM-Wuling ranked first in vehicle sales, and SAIC-Volkswagen ranked first in passenger car sales.

In the new energy sector, SAIC’s independent and joint venture new energy products sold a total of 57,000 new energy passenger vehicles and new energy commercial vehicles, a year-on-year increase of 275%. It is worth noting that the promotion of SAIC's new energy vehicles has gradually expanded from local promotion, and the sales of new energy vehicles in markets outside of Shanghai accounted for 60%.

While the sales volume is growing steadily, SAIC is actively deploying new energy, intelligent network connection and other fields. In terms of the layout of the key industry chain, the business layout on core components such as IGBTs, battery cells and battery systems, and electric drive systems has been started. In terms of product layout, we will speed up the launch of new energy household products in response to the needs of market segments. At the same time, we will cover new energy vehicle products in commercial areas such as bus rental, sanitation and postal services, logistics and commuting, and terminal operations.

In terms of the core components of intelligent driving decision control, the development of SAIC's intelligent driving decision controller iECU has entered the final stage. The MARVEL X model to be launched in the second half of the year will be equipped with an autonomous parking function by the end of the year. In terms of human-computer interaction, the Zebra Zhixing 2.0 system has been fully equipped on existing Internet models. The MARVEL X, which will be launched in the second half of the year, will be equipped with the Zebra Zhixing 3.0 system for the first time. In March of this year, SAIC obtained the Shanghai Autonomous Driving Open Road Test License, and the actual vehicle test mileage on open roads has exceeded 3,000 kilometers.

In terms of shared travel, EVCard, a time-sharing leasing brand invested by SAIC, has entered 62 cities across the country, with a total of 2.75 million registered members.

At the same time, SAIC has also achieved certain results in overseas markets. SAIC Zhengda sold 12,000 complete vehicles in Thailand in the first half of the year, an increase of 103% year-on-year. SAIC-GM-Wuling Indonesia sold 8,000 vehicles in the first half of the year.