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BAIC Group achieves record operating revenues of 58.8 billion dollars

In 2016 which just passed, BAIC Group’s key business indicators hit new high. It made a good start in the “thirteenth five-year” period with outstanding sales performance and leading growth speed among five auto groups in China. BAIC Group reached sales volume of 2.847 million units, up 15 percent year on year (1.3 percent higher than industry growth), increasing its market share to 10.2 percent; it outperformed the industry with exports of 88,000 units and achieved operating revenues of 406.1 billion yuan (about 58.8 billion USD), up 17.9 percent year on year, over-fulfilling its annual target.

In 2016, BAIC Group’s own brands achieved sales of 1.375 million units (including passenger vehicles and commercial vehicles), accounting for 48.3 percent (almost half) of the group’s total sales.

And its most important strategic business-new energy vehicles achieve a new major breakthrough. BAIC BJEV stayed ahead with sales of 52,000 units, up 159 percent year on year. BAIC BJEV’s key model EU260 became the global monthly sales champion in October, BJEV acquired the first qualification for new energy vehicle manufacturing in China, and BJEV’s forward-developed “economy car” rolled off the line. All these laid the groundwork for BAIC BJEV’s sales growth this year.

As BAIC Group’s emerging strategic industries, new energy, general aviation and international business continued to improve. BGAC gradually perfected its general aviation industry chain, went on a healthy development path, and performed strongly in its cooperation with the General Administration of Sport of China and the national parachuting team, and at Air Show China 2016.

On August 30, 2016, cornerstone was laid for BAIC SA Investment (Pty) Ltd. (BAIC SA), a joint venture of BAIC Motor Corporation Ltd. (BAIC Group) and Industrial Development Corporation of South Africa Limited (IDC), becoming the largest green field investment project in South Africa in recent 40 years. On December 27, 2016, BAIC Yunnan Ruilin Automotive Co., Ltd. was completed and went into operation. BAIC Group is moving from the simple model of service trade into a higher stage of product, technology, management and brand resources output.