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BAIC Group says H1 2019 car sales reach 1.109 million, semi-annual profit grow 4.4% YoY

Monika From Gasgoo| July 18 , 2019

Shanghai (Gasgoo)- BAIC Group announced on July 15 via its WeChat account it vehicle sales for the first half of 2019 reached 1.109 million units, outperforming the overall auto industrial level in China by 4.6 percentage points.

During the first two quarters, the China's state-owned auto group gained revenues of RMB246.45 billion, a year-on-year increase of 6%. The profit it earned climbed 4.4% from the year-ago period, BAIC Group reported.

BAIC Group H1 2019 car sales, BAIC Group 2019 H1 profit, China automotive news

(Photo source: Beijing Benz)

Premium car sector achieved an outstanding performance with 282,000 units of Beijing Benz's cars delivered through June, a growth of 11.9% over a year earlier.

BAIC Group H1 2019 car sales, BAIC Group 2019 H1 profit, China automotive news

(Photo source: BAIC BJEV)

Regarding the NEV business, the sales of the BAIC EU5 amounted to around 50,000 units after six months in 2019. Besides, the BAIC EU Series was crowned the best-selling NEV model in China by both year-to-date retail sales and monthly retail sales for several months (March, May and June), according to data from the China Passenger Car Association (CPCA).

BAIC Group said its CV arm Foton Motor saw its Jan.-Jun. sales rose 8.6% year over year to 303,000 units, outpacing the industrial average level. Foton's AUV Buses, which represents BAIC Group's strengths in NEV and CV, handed over 2,790 all-electric buses and 100 hydrogen fuel cell buses during the past six months.

Financial performance grew faster than that of the sales number. As a key earnings contributor of the Beijing-based auto group, Beijing Benz has maintained double-digit growth in both annual car outputs and sales for nine consecutive years.

BAIC Group H1 2019 car sales, BAIC Group 2019 H1 profit, China automotive news

(Photo source: BHAP)

The auto parts subsidiary Beijing Hainachuan Automotive Parts Co., Ltd. (BHAP) gained RMB31.21 billion in semi-annual revenue with a year-over-year increase of 12.1%. It is worth mentioning that on the list of top 100 global OEM parts suppliers for 2019 issued by Automotive News, BHAP moved up by 4 places to the 61st, which is also the runner-up among Chinese auto parts suppliers.

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