BAIC’s EV subsidiary BJEV sees July sales surge 78% YoY, while tumble 52% MoM

Shanghai (Gasgoo)- BAIC BJEV, one of major EV manufacturers in China, saw its car sales in July reached 12,509 units, significantly growing 78% year on year, while tumbling 52% compared with the previous month, the parent company BAIC BluePark New Energy Technology Co.,Ltd reported on August 7.

（Photo source: BAIC BJEV)

The month-on-month sales slump should be partly attributed to the three-month grace period for new NEV subsidy policy, which made numerous market demands overdrawn before the ending data June 25. By the way, the other major EV maker BYD faced the similar situation for the same reason as well. In July, BYD's NEV sales fell 11.84% year on year and plunged 37.65% month on month.

For the first seven months, the Beijing-based EV manufacturer said its year-to-date sales jumped 28% over the prior-year to 77,668 units, completing 35.3% of the 220,000-unit annual sales target it set for 2019. Confronting the market headwinds and free-fall EV subsidies, none of EV companies in China dare to say they have 100% confidence to realize their sales targets, and BAIC BJEV is no exception.

(Photo source: BAIC BJEV)

Despite the heavier pressure imposing on the automaker, there are still evident fruits output after BAIC BJEV strengthened the promotion of mid-level and premium vehicle models. For now, the higher-level EU series has become the sales mainstay as the replacement of the EC Series focusing on low-end market. In May, the BAIC EU Series, with 7,079 units delivered, was crowned the best-selling China-made NEV model by monthly retail sales.

An offshoot of the EU5 dubbed “R600” is going to make its debut at Chengdu Motor Show 2019 next month, according to local media outlets. The new trim level is expected to have a longer range than that of the existing model.