BAIC BluePark sees Jan.-Feb. 2024 sales plunge 43.2% YoY

Shanghai (Gasgoo)- BAIC BluePark New Energy Technology Co., Ltd. ("BAIC BluePark") recorded a monthly sales volume of 1,241 units in Feb. 2024, representing a year-on-year plunge of 53.81%, according to the company's latest monthly sales results.

For the first two months of this year, BAIC BluePark sold a total of 2,733 vehicles, reflecting a 43.2% steep decrease from the previous year.

Last December, BAIC BluePark saw a remarkable 111.04% year-on-year surge with sales hitting 20,815 units. However, in the first two months of 2024, sales sharply dropped to just a few thousand units.⁠‌‌‌‌⁠‌‌‌‌‌‌⁠‌‌‌‌‌‌

In terms of performance, the automotive industry faced intense competition in 2023, placing pressure on BAIC Bluepark's financial results. According to the performance forecast previously released by the company, its net loses attributable to shareholders for the year 2023 is expected to range from 5.2 billion yuan to 5.7 billion yuan. The annual net loss, excluding non-recurring gains and losses, is anticipated to be between 5.7 billion yuan and 6.2 billion yuan. By the end of 2022, BAIC BluePark had faced an annual loss of over 5 billion yuan for three consecutive years.

On February 22, BAIC BluePark stated on an investor Q&A platform that its sub-brand ARCFOX plans to launch multiple products in 2024, aiming to improve its product portfolio and profitability.

ARCFOX αT5; photo credit: ARCFOX

On February 19, BAIC BluePark announced that its first model built under the Huawei Smart Selection mode will be launched into the market later this year as a high-end intelligent car model.