BAIC Motor reports growing revenue in 2019

0 Comment(s)Print E-mail Xinhua, January 8, 2020
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Chinese automaker BAIC Motor Corp. saw its overall revenue increase by 4.26% year on year in 2019 to reach 501.2 billion yuan (about $72.3 billion), the company said Tuesday.

It was the first municipally-administered state-owned enterprise to have annual revenue exceed 500 billion yuan in Beijing, with 2.26 million cars sold last year.

The company sold more than 550,000 units of Beijing Benz (Mercedes-Benz) in 2019, maintaining double-digit growth.

Beijing Electric Vehicle Co. (BJEV), BAIC's electric car-making arm, has pushed for innovative development and sold 114,000 new energy vehicles in the first 11 months of 2019.

Total sales of Foton Motor, a subsidiary of BAIC, hit 594,500 units in 2019, with bus and truck sales outperforming the market average.

Xu Heyi, chairman of BAIC, said the company will maintain its momentum of high-quality development and expects revenue of 520 billion yuan in 2020.

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