BAIC Group Achieves Record Sales in the First Half of 2024
Beijing (Gasgoo)- On July 9, BAIC Group announced that it had a successful first half of 2024, selling a total of 771,000 vehicles. June sales alone reached 148,000 units, showing an 11.44% increase from the previous month.
Photo credit: BAIC Group
Breaking down the sales figures, BAIC Group’s passenger car sales from its wholly-owned brands experienced significant growth, totaling 73,000 units in the first half of the year. Notably, the premium electric vehicle brand ARCFOX saw a remarkable 110.24% year-on-year increase, selling 18,000 units. The BEIJING brand also performed well with 16,200 vehicles sold domestically, marking a 24.1% year-on-year growth.
In the commercial vehicle segment, Foton Motor, a subsidiary of BAIC Group, sold 300,200 vehicles in the first half of 2024, including 20,000 new energy vehicles (NEVs), representing a 22.44% increase from the previous year.
Within the joint venture sector, Beijing Benz achieved a significant milestone by producing 5 million vehicles and engines earlier this year. Beijing Hyundai also reported strong sales of 100,000 units in the Jan.-Jun. period.
BAIC Group has been focusing on the NEV industry and global expansion strategy. In June, the company, in partnership with CATL, Beijing Energy Group, and Xiaomi, started the construction of the Beijing Shidai Power Battery Base. This initiative aims to supply battery products to BAIC Group, Xiaomi EV, and other automakers in the Beijing-Tianjin-Hebei region.
Additionally, BAIC Group has expanded its presence in the NEV market in overseas markets such as Spain, Portugal, Laos, Myanmar, and Latin America during the first half of 2024.
Looking ahead, BAIC Group has exciting plans to launch new models in the second half of the year. The STELATO S9, a collaboration with Huawei, and the fifth-generation Hyundai Santa Fe are among the upcoming releases.
