BAIC Group sells 771,000 new vehicles in H1 2024

Beijing (Gasgoo)- On July 9, BAIC Group announced that it sold a total of 771,000 vehicles in the first half of 2024, with June sales reaching 148,000 units, which reflected a month-on-month increase of 11.44%.

Photo credit: BAIC Group

Breaking down the numbers, BAIC Group's wholly-owned brands’ passenger car sales saw significant growth, which amounted to 73,000 units in the Jan.-Jun. period. Notably, the automaker’s premium electric vehicle brand ARCFOX brand sold 18,000 units, marking a 110.24% year-on-year soar. Meanwhile, the BEIJING brand sold 16,200 vehicles domestically in the first half of the year, representing a 24.1% year-on-year jump.

In the commercial vehicle segment, BAIC Group’s subsidiary Foton Motor sold 300,200 vehicles in the first half of this year, including 20,000 new energy vehicles (NEVs), up 22.44% from a year ago.

In the joint venture sector, Beijing Benz has hit a cumulative production milestone of 5 million vehicles in both complete vehicles and engines earlier this year. Meanwhile, Beijing Hyundai recorded sales of 100,000 units in the Jan.-Jun. period.

BAIC Group has also strengthened its focus on the NEV industry and global expansion strategy. In June, BAIC Group, in collaboration with CATL, Beijing Energy Group, and Xiaomi, commenced the construction of the Beijing Shidai Power Battery Base. This project aims to supply battery products to BAIC Group, Xiaomi EV, and other automakers in the Beijing-Tianjin-Hebei region.

Moreover, BAIC Group has expanded its NEV footprint in such overseas markets as Spain, Portugal, Laos, Myanmar, and Latin America, during the first half of 2024.

Looking ahead, BAIC Group plans to launch several new models. The STELATO S9, co-developed with Huawei, and the fifth-generation Hyundai Santa Fe are set to hit the market in the second half of 2024.