BAIC Motor net profits attributable to parent owners skyrocket 93.32% for first three quarters

Shanghai (Gasgoo)- BAIC Motor Corporation Limited (BAIC Motor) reported that it earned RMB120.258 billion in revenues for the first three quarters of the year, achieving a year-on-year growth of 15.56%. For the first nine months, the company’s operating profits jumped 32.69% over a year ago to RMB17.019 billion and its net profits attributable to shareholders amounted to RMB3.806 billion, strikingly surging 93.32% from a year earlier.

According to sales data released by the China Passenger Car Association (CPCA), Beijing Benz witnessed its sales evidently grew 16.02% year on year to around 41,000 units last month. The sales of the Mercedes-Benz GLC-Class reached 9,750 units in September and 91,800 units for the first three quarters, apparently climbing 21.9% and 11% respectively over the year-ago period. Besides, the sales of the C-Class sedan presented year-on-year growth of 15.3% and 22.4% in monthly sales and year-to-date sales with 12,600 units and 116,000 units delivered in September and during the first nine months.

Beijing Hyundai delivered around 80,000 vehicles in September, suffering a year-on-year drop of 5.86%. By the end of September, the joint venture saw its cumulative sales jump 15.57% from a year ago to 561,200 units.