BAIC BJEV’s sales slump continues in Februay

Shanghai (Gasgoo)- BAIC Group's NEV arm BJEV, one of leading EV manufacturers in China, sold only 1,002 new vehicles in February, a year-on-year plunge of 65.05% and a month-on-month slump of 50.05%, according to its parent company BAIC BluePark New Energy Technology Co.,Ltd.

Since the NEV maker's Jan. sales were also more than halved over a year ago, the totals for the first two months plummeted 55.54% to 4,512 units.

The outputs in Feb. also slid to 255 units from 500 units in the prior-year period mainly due to the extended business shutdown and unfavorable parts supply caused by the coronavirus spread. Nonetheless, thanks to the tremendous growth achieved in Jan, the EV manufacturer still boasted a leap of 189.25% in year-to-date outputs.

（Photo source: BAIC BJEV)

To revive the virus-hit market climate, China's central and local governments have voiced several times the guiding spirit or substantial policies to stabilize and boost auto consumption. China's Ministry of Industry and Information Technology (MIIT) stated in late Feb. that regions where the automobile purchase restriction policy is implemented will be encouraged to increase as appropriate the vehicle license plate quota as part of efforts to promote the spending of automobile and relevant products.

At the same time, automakers are trying to target more prospective buyers by offering various incentives. Beijing's authority unveiled on Feb. 26 this year's first batch of license plate quota for NEV demonstration and application. The consumers buying BJEV's vehicles from then on to March 31 are allowed to enjoy services like door-to-door delivery, deferred payment and free lifetime maintenance, said BAIC BJEV.