BAIC Group Achieves Impressive Sales Milestone in 2024 Work Conference
Beijing (Gasgoo)- On January 11, BAIC Group held its 2025 work conference, where they disclosed their outstanding performance in 2024. The group surpassed vehicle sales of 1.71 million units last year, generating revenue exceeding 480 billion yuan.
The year 2024 marked the launch of BAIC’s “Three-Year Leap Action” strategy. This initiative included the introduction of a new “BAIC” logo and brand architecture, highlighting a significant step in the brand’s rejuvenation efforts.
In the passenger vehicle sector, the premium electric vehicle brand ARCFOX experienced remarkable growth. Models such as the α S5, α T5, and KAOLA contributed to annual sales of 81,000 units, representing a 170% year-on-year increase.
Despite market pressures, Foton Motor excelled in the commercial vehicle segment by introducing various new products, leading to annual sales exceeding 610,000 vehicles in 2024.
BAIC Group’s joint ventures also made significant advancements. Beijing Hyundai unveiled the 11th-gen Sonata, 5th-gen Santa Fe, and the new Tucson L. Additionally, Beijing Benz celebrated the production of over 5 million vehicles.
Throughout 2024, BAIC Group invested over 13 billion yuan in research and development. They also secured over 10 billion yuan in financing for BAIC BJEV and an 8 billion yuan capital increase for Beijing Hyundai.
The group’s exports saw steady growth, reaching 270,000 vehicles in the past year, marking a 44% year-over-year increase. The ARCFOX brand expanded its presence into Europe, the Middle East, and Southeast Asia. Foton Motor’s Thai production plant was completed in 2024, producing its 1 millionth export-ready vehicle.
These achievements underscore BAIC Group’s commitment to innovation and growth in the automotive industry. Their strategic initiatives and impressive sales milestones position them as a key player in the global market.
Photo credit: BAIC Group
