BAIC BJEV reaches only half of 2019 sales target after 10 months pass

Shanghai (Gasgoo)- Beijing-based new energy vehicle (NEV) maker BAIC BJEV saw its vehicle sales in October plunge 69.2% from a year ago to 8,601 units, its parent company BAIC BluePark New Energy Technology Co.,Ltd announced.

During the first ten months of 2019, its outputs tumbled 69.82% from the year-ago period to 24,551 units and the NEV maker sold 106,983 vehicles in total, a year-on-year decrease of 2.42%.

According to the China Association of Automobile Manufacturers (CAAM), the October outputs and sales of NEVs in China slid 35.4% and 45.6% year on year to 95,000 units and 75,000 units respectively. The year-to-date outputs and sales were 983,000 units and 947,000 units, a respective increase of 11.7% and 10.2% over the year-ago period, which was shrinking compared with that of the first nine months.    

BAIC BJEV had gained the championship in terms of China’s BEV sales for six consecutive years since its foundation in 2009 as China introduced NEV subsidy policies. However, the NEV automaker has confronted a sales decline recently amid the subsidy phase-out and the downturn trend of the auto market.

The company said it would still stick to the annual sales goal of 220,000 units. Its product restructuring has born some fruits. The higher-priced EU and EX series, have already become the mainstay models. For the first nine months, the BAIC EU series was once again crowned the best-selling China-built NEV model with its retail sales skyrocketing 484.6% year on year to 74,303 units, according to the China Passenger Car Association (CPCA). 

Besides, China's BAIC Group launched its self-owned PV brand “BEIJING” on October 15 and also unveiled the new-born brand's first BEV model “EU7”. The new model has been available for sales from September 19 with its three variants priced between RMB159,900 ($22,823) and 175,900 ($25,107) after subsidy (photo source: BAIC BJEV).