BAIC BJEV’s Jan.-Nov. auto sales dip 11.2% year on year

Shanghai (Gasgoo)- As of November, 2019, BAIC Group's NEV unit BJEV had posted sales downturn for the third month in a row, which led to a higher decrease in its year-to-date sales.

Last month, BAIC BJEV saw its sales tumble 62.6% over a year ago to 7,005 units, according to the latest sales report released by BAIC BluePark New Energy Technology Co.,Ltd. After eleven months through November, the company sold a total of 113,988 new cars with a year-on-year decrease of 11.2%, 8.78 percentage points more than the drop in Jan.-Oct. sales.

The production outputs represented a steeper downturn. The report shows that year-to-date outputs nosedived 72.21% to 27,494 units, of which the volume for November reached only 2,943 units, versus 17,566 units for the year-ago period.

BAIC BJEV's existing product lineup comprises the EC, the EX and the EU series. However, the automaker seems to be increasingly reliant on the EU series as the demand for the lower-priced EC series has been sliding partly due to the sharp cut in green-car subsidies. According to the China Passenger Car Association (CPCA), 7,500 consumers took delivery of the EU Series BEVs in November with an impressive year-on-year surge of 155%. What's more, the BJEV's EU Series was also the hottest-selling NEV model in China (in terms of Jan.-Nov. retail sales) with 90,404 units (+358.3%) delivered.

In spite of the leading position in China's NEV market, BAIC BJEV is striving to whittle down the dependence on a single model. Thus, it has rolled out several new models so far this year, such as the EX3, the EX5, the EU5 R600 and the EU7.

In addition, the NEV maker aims to consolidate its battery supply chain and strengthen the R&D in battery core technologies by cementing the partnership with the world's leading lithium-ion battery manufacturer CATL (photo source: BAIC BJEV's WeChat account).