BAIC Motor sees YoY net profit surge of 21% in Q1

Shanghai (Gasgoo)- BAIC Motor posted YoY revenue growth of 9.3% in first quarter to RMB 39.806 billion. Its net profit reached RMB 4.07 billion, surging 21.35% over the previous year, according to BAIC Motor's Q1 report.

BAIC Motor started to reform this year. In April, the company launched a new plan and a new brand IP to enhance brand image. In addition, BIAC Motor announced that it will release three SUV models, the all-new Senour X55, the BJ40 PLUS and the BJ80 EVEREST, together with one sedan model.

As the major contributor to BAIC Motor's profit, Beijing Mercedes-Benz saw remarkable Q1 sales performance, taking up two thirds of Mercedes-Benz's Q1 sales in China. In 2018, Beijing Mercedes-Benz will challenge sales target of over 440,000 units. To complete this target, Mercedes-Benz will continue to forge the local production strategy this year and release a number of all-new model products, including A-class sedan, GLC-L and mid-cycle refreshes of C-class.

From July, 2017 to March, 2018, Beijing Hyundai saw positive sales growth for nine consecutive months. In the first quarter, Beijing Hyundai's deliveries reached nearly 200,000 units, up 14.8% over the previous year. Though Beijing Hyundai suffered large sales fluctuation from March, 2017, it solved the core problem of dealership channel, ensuring the safety of dealership channel's funds and sales.