November Sales of Proprietary Brand Exceeded 40,000, BAIC Striving to Reach Annual Sales Target

Tuesday, 8 December 2015, 12:21 HKT/SGT

HONG KONG, Dec 8, 2015 - (ACN Newswire) - BAIC Motor Corporation Limited ("BAIC Motor", stock code: 1958.HK) recently announced its sales result for November. The sales volume of its proprietary brand reached 44,236 units, which exceeded 40,000 in a single month for the first time, representing an increase of 17.9% as compared to the corresponding period of the prior year and an increase of 31% as compared with last month; the sales volume of Beijing Benz reached 24,362 units in November, representing an increase of 15.7% as compared with last month; and Beijing Hyundai reached 110,094 in November, representing an increase of 11.2% as compared to the corresponding period of the prior year and an increase of 10% as compared with last month.

As compared with the peak sales season of September, October, and December with year-end promotional sales, the national automotive market is amid lackluster sales in November. While the growth of national automotive market has slowed down, BAIC Motor still achieved outstanding performance against such unfavorable environment with the three major business sectors, namely the proprietary brand, Beijing Benz and Beijing Hyundai, recording significant sales growth, which again, indicated the Company's powerful strength and confidence in accomplishing its five-year plan.

According to the data, the sales volume of the proprietary brand of BAIC Motor amounted to 12,445 units, representing an increase of 38.3% as compared with last month, and Senova D20 has already achieved the first place in the AO-level sedan market of Chinese brands; the sales volume of MPV vehicles reached 22,651 units, representing an increase of 39.8% as compared with last month, while the accumulated sales volume from January to November reached 123,653 units, representing an increase of 76.7% as compared to the corresponding period of the prior year. In the initial stage of its development, BAIC Motor entered the market with sedans and MPV vehicles, which have already gained a foothold in the competition among proprietary brands by achieving brilliant sales performance.

It is of more interest to note the performance of new energy vehicles and SUVs: the sales volume of new energy vehicles in November was 3,008 units, and 16,843 units from January to November, representing a significant increase of 531.3% as compared to the corresponding period of the prior year, securing the first place in the new energy vehicle market; in respect of the SUV product of BAIC Motor's proprietary brand, the accumulated sales volume from January to November was 24,951 units, representing an increase of 264% as compared to the corresponding period of the prior year. This year, BAIC Motor has penetrated into the SUV market, and Senova X65 which was presented in the first half of this year has made great contribution to the sales performance of the proprietary brand. Additionally, Senova X25, soon to be launched, will continue to improve the product segmentation of the proprietary brand, indicating a bright outlook. This year, as the "SUV year" for BAIC Motor, the SUV products of the Group hit the market in succession, and BAIC Motor is believed to welcome a "harvest year" for its SUV products in the coming year.

Beijing Benz maintained strong growth in sales, the accumulated sales volume of which from January to November reached 220,699 units, representing an increase of 69.5% as compared to the corresponding period of the prior year. The newly launched GLC-class SUV debuted at Guangzhou Automobile Exhibition set off a craze of purchasing among consumers. This year, Beijing Benz surprised the market with upgraded and updated products and improved product segmentation, indicating significant confidence in returning the No.1 brand in the premium vehicle market.

Beijing Hyundai also achieved great sales performance, demonstrating growth both as compared to the corresponding period of the prior year and as compared with last month. The overall sales volume secured the fourth place in the industry against such unfavorable market environment. In the future, Beijing Hyundai will continue to expand capacity to achieve better performance. Moreover, the products will embrace strategies of upgrading in accordance with favorable policies released for small-displacement vehicles. In addition to presenting new products, the Company will increase investment in new technology including hybrid power and 1.4T turbocharging.

On 19 December, BAIC Motor will welcome its first anniversary of its listing in Hong Kong. Looking back to the performance during the year, BAIC Motor's proprietary brand, constantly perfecting its product deployment, caught up from behind in terms of sales; while the JV-branded Beijing Benz and Beijing Hyundai also achieved great sales performance. The Company will hold an annual results announcement early next year, which, inevitably, will attract intense attention from the capital market and investors.

Topic: Press release summary Sectors: Automotive, Daily News
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