SAIC Motor vs Suzuki: Revenue, Profit and Business Model
SAIC Motor had ~$91.2B of annual revenue in FY2025 and ~$1.4B of net income. Suzuki had ~$42.2B of annual revenue in FY2026 and ~$2.9B of net income.
Latest financial snapshot
SAIC Motor
- Latest annual revenue
- ~$91.2B (FY2025)
- Net income
- ~$1.4B
- Net margin
- 1.5%
- Revenue growth
- -4.2% a year, FY2021–FY2025
Suzuki
- Latest annual revenue
- ~$42.2B (FY2026)
- Net income
- ~$2.9B
- Net margin
- 7.0%
- Revenue growth
- +15.2% a year, FY2022–FY2026
Financial summary
SAIC Motor
Revenue peaked at ~$108 billion (CN¥779.8 billion) in 2021, then fell to ~$87.2 billion (CN¥627.6 billion) in 2024 as joint-venture volumes shrank, and net profit dropped to ~$232 million (CN¥1.67 billion) that year. 2025 brought a rebound: revenue rose 4.6% to ~$91.2 billion (CN¥656.24 billion) and attributable net profit rose to ~$1.41 billion (CN¥10.11 billion). In the first half of 2026 revenue was flat at ~$41.5 billion (CN¥298.65 billion), net profit fell 14.4% to ~$716 million (CN¥5.15 billion), and operating cash flow rose 158% to ~$7.55 billion (CN¥54.3 billion). The board proposed a 2025 cash dividend of CN¥2.66 per 10 shares, about $423 million (CN¥3.04 billion) in total. SAIC Motor Corporation Limited is a colossal Chinese state-owned automotive design and manufacturing company, sustaining a market valuation typically exceeding $20 billion.
Suzuki
Suzuki Motor Corporation (TYO: 7269) reported FY2025 (year ended March 31, 2026) revenue of ~$42.2 billion (¥6,293.0 billion), up 8.0% from ~$39 billion (¥5,825.2 billion), helped by stronger Indian demand after GST cuts. Operating profit fell 3.1% to ~$4.17 billion (¥622.9 billion) (9.9% margin) on yen strength and raw-material costs, while net profit attributable to owners rose to ~$2.94 billion (¥439.3 billion). In Q1 FY2026 (April-June 2026) revenue rose 22% to ~$11.4 billion (¥1,705.8 billion) and operating profit 11% to ~$1.06 billion (¥158.0 billion); Suzuki raised its full-year revenue forecast to ~$46.2 billion (¥6,900 billion) but cut its operating profit forecast to ~$3.62 billion (¥540 billion), citing Middle East instability and higher material costs.
Revenue and profit by year
SAIC Motor
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$91.2B | ~$1.4B | 1.5% | +4.6% | Source |
| FY2024 | ~$87.2B | ~$231.6M | 0.3% | -15.7% | Source |
| FY2023 | ~$103.5B | ~$2B | 1.9% | +0.1% | Source |
| FY2022 | ~$103.4B | ~$2.2B | 2.2% | -4.6% | Source |
| FY2021 | ~$108.4B | ~$3.4B | 3.1% | — | Source |
Where the revenue comes from
SAIC Motor
- Vehicle sales (own brands and consolidated JVs)
Not formally reported
Sales of MG, Roewe, IM Motors, Maxus and Wuling vehicles in China and overseas.
- Auto parts (HASCO / Huayu Automotive)
Not formally reported
Interiors, lighting, chassis, thermal and e-drive parts sold to SAIC and other carmakers.
- Joint-venture investment income
Not formally reported
SAIC's share of profits from 50:50 joint ventures with Volkswagen and General Motors.
- Finance, logistics and mobility services
Not formally reported
Auto loans and dealer financing, Anji Logistics vehicle transport, and mobility services.
Suzuki
- Passenger Automobile Manufacturing & Sales~88%
Engineering and mass-producing compact hatchbacks, sedans, and SUVs (Swift, Baleno, Brezza, Grand Vitara, Jimny, Wagon R) sold across India, Japan, Europe, and Latin America.
- Motorcycles & ATVs~8%
Producing commuter scooters (Access 125, Burgman) and high-performance sportbikes (Hayabusa, V-Strom, GSX-R series).
- Marine Outboard Engines & Power Equipment~4%
Manufacturing high-horsepower four-stroke outboard motors for commercial fishing and recreational marine vessels.
Business model and strategy
SAIC Motor
How it makes money
SAIC makes money mainly by building and selling vehicles. Revenue is consolidated from its own brands (MG, Roewe, IM Motors, Maxus/LDV), from consolidated joint ventures, and from parts maker HASCO (Huayu Automotive Systems).
Growth strategy
SAIC's growth plan centres on its own brands and overseas markets. MG is the export spearhead, with local assembly in Thailand, Indonesia and India and plans for more local production to work around tariffs. At home, SAIC is moving Roewe, MG and IM Motors onto new EV and plug-in hybrid platforms, and working with partners such as Huawei, Audi and Alibaba on software and premium models.
Competitive advantage
SAIC's advantages are scale, a long head start in exports and a well-known Western brand. MG gives it an established dealer network in the UK, Europe, Australia, India and the Middle East. It also has backing from the Shanghai government, its own parts supplier in HASCO, its own car logistics arm in Anji Logistics, and four decades of manufacturing know-how from working with Volkswagen and GM.
Suzuki
How it makes money
Suzuki Motor Corporation operates a diversified multinational automotive, motorcycle, and marine manufacturing model. Its primary revenue streams comprise: First, Passenger Automobile Manufacturing & Sales (~88% of revenue), engineering and mass-producing compact hatchbacks, sedans, and SUVs (Swift, Baleno, Brezza, Grand Vitara, Jimny, Wagon R) sold across India, Japan, Europe, and Latin America.
Growth strategy
Suzuki Motor Corporation's growth strategy centers on its 'Growth Strategy for FY2030', focused on dominating emerging markets (especially India via Maruti Suzuki), scaling global small-car manufacturing, and executing a pragmatic multi-pathway electrification approach.
Competitive advantage
Suzuki's advantage is its engineering of lightweight, fuel-efficient small cars and its position in India through Maruti Suzuki. It holds roughly 40% of the Indian passenger vehicle market, supported by a sales and service network of more than 4,000 outlets, which builds customer trust and gives it cost advantages in affordable cars.
Questions about SAIC Motor vs Suzuki
Which company has higher revenue — SAIC Motor or Suzuki Motor Corporation?
SAIC Motor had ~$91.2B (FY2025), while Suzuki Motor Corporation had ~$42.2B (FY2026). By latest annual revenue, SAIC Motor is the larger business, with Suzuki Motor Corporation showing a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of SAIC Motor vs Suzuki Motor Corporation?
SAIC Motor's market capitalisation stands at $17.0B, while Suzuki Motor Corporation's is $26.0B. Suzuki Motor Corporation carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to SAIC Motor.
How does revenue per employee compare for SAIC Motor and Suzuki Motor Corporation?
SAIC Motor has $507k / employee in revenue per employee, while Suzuki Motor Corporation has $602k / employee. Headcounts may use different dates, so the ratio alone does not establish which business operates more efficiently.
How do SAIC Motor and Suzuki Motor Corporation make money?
SAIC Motor and Suzuki Motor Corporation generate revenue in fundamentally different ways. SAIC Motor: SAIC makes money mainly by building and selling vehicles. Suzuki Motor Corporation: Suzuki Motor Corporation operates a diversified multinational automotive, motorcycle, and marine manufacturing model.
Which company is valued higher relative to revenue — SAIC Motor or Suzuki Motor Corporation?
On a price-to-sales (P/S) basis, SAIC Motor trades at 0.2x P/S and Suzuki Motor Corporation at 0.6x P/S. Suzuki Motor Corporation commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to SAIC Motor. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is SAIC Motor bigger than Suzuki Motor Corporation?
By last reported revenue, SAIC Motor (~$91.2B (FY2025)) is the larger company compared to Suzuki Motor Corporation (~$42.2B (FY2026)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the SAIC Motor vs Suzuki overview