Earlier today (14th January 2022), SAIC-GM-Wuling announced that its Hongguang Mini EV has crossed 500,000 units in terms of sale last year. The EV in question is like a “micro car,” and has seen success in the company’s home market of China.

Previously, the company had announced that it had crossed 400,000 Hongguang Mini EV sales in China, but this figure has now surpasses 550,000 units. This made also it rank first in China in terms of annual sales for cars that run on ‘new energy’. Furthermore, Wuling Motors have set a new record for the sale of a single model of new energy car in China, with sales reaching 55,729 units in December 2021 alone.

Notably, the company’s Hongguang Mini EV also ranked first in this category for the 16th consecutive month. At the moment, the Chinese automobile maker is expected to continue the series by offering upgrades to the micro car. It even plans to launch new models of the mini electric vehicle as well in China. The company has even managed to sell more EVs than the world’s largest EV maker, Tesla, thanks to its Mini EV.

Adding to its achievements, the Wuling Hongguang MINI EV even took the crown in new energy preservation rate list from All-China Federation of Industry and Commerce Automobile group. In this list, it ranked first with an 89.78 percent efficiency rate. The combined sales of the SEV series models including Hongguang MINI EV, Wuling Nano EV, and KiWi EV from the brand has crossed more than 750,000 units during the same period.

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During the month of August, electric vehicle sales reached 506,000 units. A new report shared the figure and found that our of the half a million figure, more than 50 percent of all sales for electric vehicles were in China.

According to TheElec, the report arrives from EV Volumes who added that the overall figure is likely higher than 510,000 units when including the nations who’s data was unavailable. This also marked total sales doubling over the same month from a year ago. Notably, out of this total figure, 260,000 units or more than half of the EV sales in August were made in China. In Germany, around 52,000 units of EVs were sold, while the US market saw around 44,000 units being sold.

Similarly, France accounted for 17,000 units and Norway saw 14,000 EV units sold. In South Korea, electric vehicle sales reached 9,600 units, which marked a sizeable 172 percent growth year on year. EV Volumes further added that the launch of the Tesla Model Y and Hyundai Ioniq 5 boosted sales in August, while electric trucks from Hyundai and Kia were also quite popular.

In terms of total units sold, the Tesla Model 3 was the most popular electric car, which sold around 282,000 units across the globe during this month. The Wuling Hongguang Mini EV was the second most popular EV that sold 245,000 units, followed by Tesla Model Y with 180,000 units sold. The model 3 was popular in Europe, while the Wuling Hongguang Mini EV was popular in China. EV Volumes projects total sales of electric vehicles to hit 6.41 million unit this year.

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On Monday, electric vehicle manufacturer Tesla posted its 2021 half-year results, which indicated that the US company sold about 200,000 EVs in the second quarter of the year, yielding $12 billion, up by $6 billion from last year. In an update to investors, the company stated that Q2 profits soared to $1.1 billion, up from the $104 million from last year. The very impressive numbers by Tesla seem to be replicated by Chinese EV maker SAIC-GM.

SAIC-GM-Wuling Automobile recently reported its mid-year performance with the overall sale of its vehicles above 884,000 within the first six months of 2021. The result also indicated that there was a 39.5% surge in sales year-on-year. The company also had positive growth for the fifteenth consecutive month. SAIC-GM produces the Wuling and Baojun brands, and the two account for the massive sales.

Last year, the global EV market experienced reduced sales due to the coronavirus pandemic and the global chip shortage. The global EV market has shown a rebound from last year’s decline, as more persons embrace the sustainable environmental solutions posed by electric vehicles. The bulk of the EV sales for SAIC-GM came from the Wuling brand, which accounted for 693,351 units, while the Baojun brand ramped 123,057 units within the first half of 2021. The company also reported a total export of 74,225 cars and recorded positive growth for the six consecutive months of the year.

SAIC-GM-Wuling is riding on the tide of a solid performance in China, the world’s largest and fastest-growing EV market. It is squaring up against Tesla with its impressive EV models, as its cars are significantly cheaper than Tesla’s. The data shows that Wuling’s Hongguang MINIEV is still a hot-sellling model as the brand sold 182,767 units in the first half of the year, an average of 1,000 vehicles per day.

The outlook remains bright for the company as it continues to evolve strategies to expand the coverage for its budget electric vehicles. However, in terms of revenue, it will have to sell a lot more to equal Tesla’s declared financial turnover.

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