SAIC Motor continues to climb the Fortune 500 List
Dubai, UAE, August 14, 2018: SAIC Motor has achieved its highest ever position on the Fortune 500 list, ranking first among Chinese auto companies. Appearing on the prestigious list for a 14th consecutive year, SAIC Motor has been ranked No. 36 by US-based Fortune magazine, five places higher than the previous year. The accolade follows the brand achieving a sales revenue of 128.819 billion US Dollars and car sales of 6.93 million units in the 2017 financial year, a 6.8 percent increase on the previous year.
Already well established globally, SAIC Motor has sales networks in 13 core countries and regions including ASEAN, Middle East, Africa, Europe and Oceania, as well as an innovation centre in Silicon Valley. As the largest auto manufacturer in China, the brand ranked 7th among all global automakers on the Fortune 500 List, ahead of brands such as BMW and Hyundai.
SAIC Motor is at the forefront of global technological innovation, delivering significant achievements in a number of areas related to the development of the cars of the future, such as new-energy cars, connected vehicles and automated driving. In the first half of 2018, SAIC Motor's sales volume of new-energy vehicles amounted to 57,000 units with a year-on-year growth rate of 275 percent a growth rate more than twice the market average.
Commenting on the news, Tom Lee, Middle East Managing Director, said: “The Middle East is one of the most important international markets for SAIC Motor. Our record-breaking ranking on this year’s Fortune 500 List reflects the brand's efforts in effectively serving SAIC Motor’s valued customers whilst creating a competitive international brand image. In the future, SAIC Motor will continue to develop new-energy cars, connected vehicles and automated driving to enhance our global and Middle East footprint as we continue to focus on being a world leader in innovation.’’
As part of this global focus, SAIC Motor has been expanding its presence in the Middle East since opening its headquarters in Dubai’s Jebel Ali Free Zone in November 2015. Recently, the brand has introduced a fresh line up of vehicles to the region under the MG Motor brand, including the MG RX5, MG ZS and MG GS 2019. MG Motor has also expanded its distribution network with the appointment of new partners in the UAE and KSA within the last 12 months.
Home >> Automobile Section
Wasserman Rebrands CSM Sport & Entertainment
Dubai Municipality unveils Dubai's Best Homegrown Produce Competition
Famine imminent in northern Gaza, new report warns
Elisa sednaoui & Fatima Al Banawi Share the Extraordinary Women
UAE fighters to the fore on opening night of Jiu-Jitsu at 11th Nad Al Sheba Spor ...
A Breakthrough in Sustainable Skincare Blending Science and Nature
Renowned Architect Ma Yansong: new Hublot Friend of the Brand
Third cohort of Arab women scientists graduates from ICBA's regional fellowship ...
McLaren Dubai's First 750S Customers Experience the Benchmark-Setting Performanc ...
Natuzzi Italia and Dubai Cares Present: Re-vive Masterpiece Showcase Extended Un ...
Keep your Home Fresh and Clean During Ramadan with LG Smart Dehumidifier
Dyson's most intelligent hair dryer for healthier scalp and hair
Hysek celebrates Ramadan with X-RAY Perpetual Calendar
Formula E Announces New Technology Partnership With Google Cloud To Accelerate G ...
Celebrate Eid Al Fitr with Holidays by flydubai
Baros Maldives Launches Exclusive Serenity Healing Therapy: A Journey To Inner P ...
49th Edition of Middle East Energy Set to Power Up its Transformative Role in Re ...
Banyan Tree Dubai Presents its Exquisite Private Destination Dining Experience f ...
50 Million Viewers follow the World Ski Tour in Dubai
Medcare Hospital Al Safa performs life-saving vascular surgery to restore blood ...