SAIC Group rebrands IM models under MG badge

• SAIC’s IM brand plans to rebrand models for Europe and South America under MG, leveraging global success.
• IM Motors, a SAIC collaboration, competes with Tesla and Nio, producing IM-branded vehicles.
• MG’s diverse lineup, including IM’s luxury models, aims to strengthen sales globally, aligning with SAIC’s ambitious 2024 goals.

SAIC Group strategically capitalise on MG branding to enhance sales and achieve ambitious 2024 goals

The SAIC co-owned IM brand is gearing up to rebrand its models for the European and South American markets. This strategic shift aims to penetrate new territories, leveraging MG’s global acclaim to enhance sales abroad. Both entities fall under the influential SAIC umbrella, a prominent player in China’s automotive landscape.

IM Motors, a collaboration involving SAIC Motor Corporation Group, Zhangjiang High-Tech Park, and Alibaba Group, is an upcoming contender against industry heavyweights like Tesla and Nio. The production of IM-branded vehicles is overseen by SAIC. Meanwhile, MG now operates under SAIC’s ownership.

- Advertisement -

The impending rebranding expands MG’s existing lineup, integrating IM’s mid-sized luxury vehicles seamlessly into MG’s portfolio. Noteworthy models, such as the large sedan IM L7, mid-size fastback SUV IM LS6, and the larger SUV IM LS7, are poised to embrace the MG moniker. The imminent introduction of IM L6, tailored for the Chinese market, further enriches MG’s offerings.

Despite IM’s exclusive presence in Mainland China, its cumulative sales for 2023 amounted to 38,253 units. However, the brand confronts formidable competition from industry giants such as Tesla, Xpeng, and Nio. The rebranding decision strategically positions IM to fortify sales, particularly in the discerning European and South American markets.

In contrast, MG boasts global success, with sales surpassing 840,000 units in 2023. Thanks to these remarkable figures, MG contributes to approximately 70% of SAIC Group’s overseas sales. Pivotal models like the MG4 EV, MG ZS, and MG5 have consistently secured top positions in export lists. Notably, the MG4 EV clinched the title of the best-selling compact electric vehicle in Europe, with overseas sales exceeding 130,000 units.

The success narrative extends beyond IM, as SAIC Roewe and SAIC-GM Wuling models garnered commendable sales by adopting the MG brand. SAIC Group is setting ambitious goals, targeting a global annual sales figure of 1.35 million units. The rebranding initiative aligns with SAIC’s broader strategy, reflecting an 18.8% year-on-year increase in overseas sales in 2023.

This smart branding move mixes cutting-edge Chinese EVs with a time-honoured European brand. In essence, SAIC Group is leveraging its assets to ease the introduction of new models into Europe. In practical terms, though, it means that MG’s EV line-up is about to grow rapidly.