BAIC Group gains 3.7% year-on-year growth in Q1 sales
Shanghai (Gasgoo)- China's stated-owned automaker BAIC Group announced that its revenue in the first quarter of the year reached RMB123.68 billion with a year-on-year increase of 11.6% and its quarterly profit rose 13.6%, outpacing the revenue growth.
For the first three months, the automaker's cumulative vehicle sales edged up 3.7% over the previous year to 573,000 units, 15 percentage points higher than the growth level for the overall auto market. Besides, the company exported 21,200 vehicles in total, a year-on-year jump of 25.8%.
As to subsidiaries' performances, BAIC Motor's self-owned brands saw the Q1 sales more than doubled over the same period a year earlier. Foton Motor sold 143,000 vehicles with a growth of 14.8%. Moreover, Beijing Benz, selling 145,000 vehicles, gained a year-on-year increase of 14.3%. Beijing Hyundai's wholesale volume aggregated 169,000 units. A total of 19,200 vehicles were exported by BAIC INTL and Foton Motor's overseas business arm, showing a growth of 10.7%.
BAIC BJEV's Jan.-Mar. sales totaled around 25,000 units, among which over 50% of sales came from mid-end and high-end products. At the ongoing Auto Shanghai 2019, BAIC BJEV shows off a number of BEV models, including the BAIC EC5 SUV, the 2019 EC3, the EU5 R600, the EX5 SUV as well as the EX3 SUV, and demonstrates its latest wireless charging technology.
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