BAIC falls far behind 3.5 million annual sales goal in China

Gasgoo.com (Shanghai Jan 4) - The first 11 months of 2015, BAIC accumulates sales of 2.1707 million units, unlikely to achieve the annual sales target of 3.5 million. Its independent brands have just started to taken off and joint-ventures present unbalanced performance in the twelfth five year period.

Its own passenger car section has only escalated since the establishment of Beijing Motor in 2010. Fear of falling behind, it launches new products quite frequently while expanding production capacity to possible 2.45 million units annually in the near future. But still it lacks of best-seller models.

Beijing Benz, as one of its joint-venture, sold 335,700 units in the first eleven months in China, up 32.8% on a year-on-year basis. Meanwhile, Beijing Hyundai has a squeezed sales of 940,000 compared with the same period of last year.

But, the group has made ambitious goal for the thirteenth five year plan that it will increase alternative energy vehicle sales dozens times more than 20,000 units. It doesn’t set specific numbers in sales for the next five years, instead more emphasis is laid on ranking and competitiveness of its subsidiaries.