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| Thursday, 31 March 2016, 16:13 HKT/SGT | |
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HONG KONG, Mar 31, 2016 - (ACN Newswire) - China's passenger vehicle market witnessed a fluctuating year in 2015. It sustained a continuous plunge in the first two quarters impacted by such multiple exterior economic factors as national economic slowdown and stock-market turbulence; but recovered gradually and maintained a strong rebound momentum driven by favorable policies in the third quarter. China Association of Automobile Manufacturers' statistics showed that the passenger vehicle sales volume amounted to 21.1 million in 2015, reaching a new high, also representing a year-on-year growth of 7.3% but down 2.6% compared with same period in 2014. BAIC Motor Corporation Ltd. ("BAIC Motor"; Stock code: 1958.HK) recently released its annual results of 2015: Its total revenue increased from RMB56,370.3 million in 2014 to RMB84,111.5 million in 2015; its total gross reached RMB15,276.8 million, marking a year-on-year growth of 70.1%.
Sales volume of Beijing Benz surged up to buck the trend with "n Plan" promoted
BAIC Motor's three major brands, Beijing Motor, Beijing Benz & Beijing Hyundai, bucked the trend in 2015 with their annual sales volumes of traditional and new energy vehicles reaching 1,650.1 thousand, a year-on-year growth of 4.8%: Vehicle sales volumes of Beijing Motor and Beijing Benz amounted to 587.3 thousand, a year-on-year growth of 29.0%, which was 21.7% higher than China's average passenger vehicle growth rate 7.3%. Grasping the surging demands for MPV, SUV and new energy vehicles as well as launching multiple new models, Beijing Motor's annual sales volumes of traditional and new energy vehicles amounted to 337.1 thousand, a year-on-year growth of 8.9%. Senova small-sized SUV, Senova X25, was launched towards the end of 2015 and its sales volume amounted to 5,800 units in the same month of its market launch. In 2016, Beijing Brand will further focus on the SUV and MPV market segments, and will launch various new products, including Senova X55, BJ40(four doors version)and BJ80, which are expected to further boost the overall sales growth of Beijing Motor. Meanwhile, Beijing Benz's annual sales volume surged up to 250.2 thousand, a year-on-year growth of 72.0%. In addition, BAIC Motor had also made new breakthroughs in decreasing costs and increasing benefits, developing new products, quality control and innovative management, as well as other key production and operating processes, thereby laying a sound foundation for further adjusting its operating structure and achieving the goal of "n Plan" in 2020.
BAIC Motor responds to government's call to grasp new energy market opportunity
With NPC & CPPCC Sessions 2016 convened in Beijing, to develop the new energy vehicles and establish an integrated industrial and innovation system are still hotspot topics in the whole vehicle industry. Central Government reaffirms its further support for the new energy vehicle industry in five areas, such as power battery, charging infrastructure, financial subsidies, etc., which prove to be favorable policies for the further development of new energy and blade electric vehicles (BEV). In addition, ES210, a high-end BEV under BAIC Motor, has been designated the single BEV for NPC & CPPCC Sessions 2016. As an industry-leading passenger vehicle manufacturer in China, BAIC Motor not only concentrates on the R&D of the new energy vehicles, but also actively responds to the call of Central Government on conserving energy and reducing emission to be an industry pioneer in implementing the low-carbon environmental philosophy. Annual sales volume of Beijing Motor's new energy vehicles amounted to 20.1 thousand in 2015, a year-on-year growth of 269%, reaching an all-time high. In addition, the government subsidy in relation to new energy vehicles increased by 246% to RMB1,800 million in 2015 from RMB500 million in 2014
With structural adjustments and stable growth as the macroeconomic keynote in 2016, it is predicted that China's vehicle market confronts both opportunities and challenges. With the passenger vehicle's supply-side reform stimulating the rigid demand, growth potential of the regional markets is also expected to be released. At the same time, the growth trend in the SUV segment will also be maintained. Looking forward, BAIC Motor will grasp the industry opportunity arising from the 13th Five-Year Plan and promote its three major brands based upon the grand blueprint "n Plan" in 2020: Beijing Motor will improve its market structures in SUV and MPV segments and launch multiple all-new products; Beijing Benz's future operating results will mainly depend on GLC and SUV, but the market performance of the all-new next generation E-Class Benz which will be launched in 2016 is promising; Beijing Hyundai will strive to attain its annual operational objectives by adjusting flexibly its promotion policies based upon the specific market conditions.
Topic: Press release summary
Sectors: Daily Finance, Automotive, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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