China’s BAIC Achieved Year-on-year Growth of 45% in Revenue for the First Three Quarters of 2015

Gasgoo.com (Shanghai Oct.30) -Sales performance of BAIC indeed set the world on fire this year. The auto manufacturer gained 61.6 billion yuan in revenue for the first three quarters of 2015, an increase of 44.5% year on year, which is followed by the net profit for BAIC’s shareholders reaching 2.25 billion yuan, undergoing a year-on-year growth of 7.2%. According to statistics, Beijing Benz Automobile Company (BBAC) sold 175 thousand of its autos for the first three quarters with the year-on-year growth rate climbing to 71.39%; the numbers for alternative vehicles are respectively 11.3 thousand and 1175.62%.

An anonymous analyst told Securities Daily, “The self-owned brands of BAIC will see a better performance in the last quarter, and so will BBAC. At the same time, with more national priorities given to alternative vehicles and Beijing’s regional advantage, the alternative vehicles will gain much momentum as well. In the next 5 years, BAIC is expected to be among the top 3 domestic self-owned brand auto manufacturers.”

In retrospect of the BAIC’s performance in the past three quarters, BBAC achieved a sale of 72.2 thousand vehicles in the third quarter with a year-on-year growth of 91.2%, continuing the strong growth in the first half of this year. Based on the development of new models and its existing market, BBAC’s vigor is expected to persist.

The sales volume of alternative vehicles of BAIC’s self-owned brands reached 5,053 with a year-on-year growth of 923%.It was worth mentioning that the volume of September alone arrived at a record-high 2,300. According to the information from China Association of Automobile Manufacturers (CAAM), thanks to the favorable national policies, the market of alternative vehicles embraces much potential. BAIC will keep its emphasis on alternative vehicles in the virtue of policy advantages, attempting to grab competitive edge in the market.

Nevertheless, the performance of Beijing Hyundai experienced a downward trend this year. Analyst noted, “Due to the construction and operation of another two new plants in Cangzhou, Hebei Province and Chongqing, Beijing Hyundai may usher in a brighter future in sales and production terms.”