Joint Force of multi-segments in BAIC Motor makes its 2016 revenue exceed RMB 400b

Latest news comes out that BAIC Group achieves operating revenue of RMB 406.1b in 2016, increasing 17.9% and surpassing annual target. The whole group accomplishes vehicle sales of 2.847m units, increasing 15% and 1.3 percentage points higher than average growth. Market share is raised to 10.2%. Exported vehicles achieve 88,000 units, outperforming industrial average level.

Self-independent brands perform best. BAIV Group self-independent brands sell 1.38m units vehicles (passenger vehicles and commercial vehicles included), accounting for 48.3% of total group sales.

The spotlighting alternative energy vehicles achieve annual sales of 52,000 units and increase 1.59 times, ranking champion of domestic BEV market. According to the target set by BAIC Group, alternative energy vehicles will challenge 200,000 units with 4-times growth this year.

Beijing-Benz continues leading the luxury vehicle market in 2016, with annual sales volume of RMB 90.48b, which increases 27.7%. Beijing Hyundai sells 1.14m units in 2016 with revenue of RMB 115.4b. Besides, BAIC Motor purchased 35% shares of Fujian Benz in 2016, marching towards high-end commercial vehicle market.

Strategy of transferring towards manufacturing service and innovative companies also take effect. BHAP and BAIC Rocar receive profits of RMB 2.47b and 1.43b respectively, all achieving large growths.

Confronting the new situation this year, Xu Heyi, Board Director of BAIC Group, points out that, 2017 is the key year in deepening transformation and constructing self-independent brands.