BAIC Group logs annual sales volume of over 1.71 million vehicles in 2024

Beijing (Gasgoo)- On January 11, BAIC Group held its 2025 work conference, revealing its 2024 performance. The group achieved vehicle sales exceeding 1.71 million units last year, with revenue surpassing 480 billion yuan.  

2024 marked the inaugural year of BAIC's "Three-Year Leap Action" strategy. The group introduced a new "BAIC" logo and brand architecture, signaling a significant step in its brand rejuvenation.  

Photo credit: BAIC Group

In the passenger vehicle sector, the premium electric vehicle brand ARCFOX saw significant growth, with the α S5, α T5, and KAOLA models driving annual sales to 81,000 units, which represented a 170% year-on-year surge.

In the commercial vehicle segment, Foton Motor overcame market pressures and introduced various new products, reaching annual sales of over 610,000 vehicles in 2024.  

As to the group's joint ventures, Beijing Hyundai launched the 11th-gen Sonata, the 5th-gen Santa Fe, and the new Tucson L last year. Meanwhile, Beijing Benz so far achieved cumulative production volume of over 5 million vehicles.  

Photo credit: BAIC Group

In 2024, BAIC Group invested over 13 billion yuan in R&D, and secured over 10 billion yuan in financing for BAIC BJEV and capital increase of 8 billion yuan for Beijing Hyundai.

The group's exports grew steadily to 270,000 vehicles in the past year, which zoomed up 44% year over year. The ARCFOX brand officially entered Europe, the Middle East, and Southeast Asia. Foton Motor's Thai production plant completed construction in 2024, and rolled off its 1 millionth-unit ready-for-export vehicle.