MG parent now bigger than Google
THE parent company of Birmingham-based MG, SAIC Motor, has entered the Global Fortune top 100. It is the company’s 10th appearance in the annual Fortune 500 list and it moves up 18 places from last year’s result to reach 85th position, with 2013 yearly sales revenues of $92bn (£54.7bn).
The Global Fortune 500 sees Asda owner Wal- Mart retain the number one spot. However, SAIC’s 85th position saw it placed ahead of many well known brands such as Microsoft (104th), Sony (105th), Amazon.com (112th), Google (162nd), Coca- Cola (224th) and Walt Disney (232nd).
SAIC Motor is the market leader for sales in China, last year achieving record global manufacturing and sales of over 5.1 million units, an increase of 13.71% on 2012 sales and the first Chinese automotive manufacturer to exceed five million units in a year.
Out of these, 230,000 have been attributed to global sales of the MG and Roewe marques.
SAIC Motor retains its appetite for growth and is continuing to grow as a leader in independent technology innovation, with recently announced new powertrain developments and the industrialisation of new energies, as well as the launch of the first manufacturer-owned O2O commerce platform.
It is also strengthening its overseas operation and expand distributions in developing markets like ASEAN, Middle East, South America, specifically with the opening of a SAIC manufacturing facility in Thailand this year, enabling the company to expand into South East Asia, with production capacity expected to be around 50,000 vehicles a year.
MG is enjoying something of a renaissance itself, with 2014 – the firm’s 90th anniversary – proving to be its most successful year under Chinese ownership.
In July, the Longbridge manufacturer announced it had exceeded its 2013 total sales in just the first five months 2014. Society of Motor Manufacturers and Traders (SMMT) figures for June show a 791% month on month sales increase, with the year-to-date figure up 833%.
The company’s success has been attributed to the popularity of the MG3 supermini and the expansion of the MG6 diesel powertrain family, with a new 129g/km diesel recently added.
Since the launch of the MG3 last September, MG has become the fastest growing automotive brand in the UK with 50 retailers in total – 22 of which opened in 2014 including; Havant, Torquay, south Sheffield, Dudley, Gloucester, north Sheffield, Woking, Spalding, Barnes in West London, Newcastle, Leicester, Harrogate, Doncaster, Northampton, Swindon, Norwich, Falmouth, Brecon, Maidstone, Wareham, Oxfordshire and Exeter.
