AutoBeta(AutoBeta.net)11/14 Report--

Both the traditional passenger car market and the new energy vehicle market rebounded to varying degrees in October, reflecting the continuous recovery of the overall market. However, as the former "sales leader" of the new energy vehicle industry, BAIC New Energy has "fallen endlessly".

Recently, BAIC Blue Valley released sales of KuaiBao in October 2020. the company sold only 2037 new energy vehicles in October, a year-on-year drop of 76.32%. The cumulative sales from January to October were only 23123, down 78.39% from 106983 in the same period last year.

The sharp decline in sales has led to a sharp loss in profits. According to the third-quarter results, BAIC Langu achieved revenue of 3.922 billion yuan in the first three quarters, down 78.16% from the same period last year, and a net profit loss of 2.884 billion yuan, compared with a loss of 313 million yuan in the same period last year. In the net profit after deducting non-operating profit and loss, BAIC Langu's net loss is as high as 3.109 billion yuan.

BAIC New Energy has developed rapidly in the past few years, and its sales increased from 20, 000 in 2015 to 150000 in 2019, becoming the number one in the domestic pure electricity market for seven consecutive years. Today, BAIC's new energy sales have plummeted by 80%, which is completely out of touch with the overall market. The latest figures released by the Federation of passengers show that the retail volume of new energy vehicles in October was 133000, an increase of 116.1% over the same period last year.

In October, a number of new energy vehicle companies achieved sales growth, including SAIC GM Wuling, BYD, SAIC passenger cars and Tesla China. Among them, thanks to the hot sales of Hongguang MINI EV, SAIC GM Wuling New Energy vehicle sales reached 29711.

In addition, the sales of new power car companies such as NIO, ideal, Weima and Xiaopeng are all good, and some of them are the best in history. According to official figures, delivery of Xilai cars increased by 100.1% to 5055 in October, while Xiaopeng Weimar increased by 229.0% and 46.10% respectively, while ideal delivered 3692 new cars to users in October.

In the case of the recovery of the overall market, BAIC new energy sales have dropped sharply. In the list of new energy passenger cars, BAIC new energy vehicles can no longer be seen. From January to October, BAIC EU series has been squeezed into the top 10, but the decline is as high as 76.2%, and it is possible to be squeezed out of the list by other models at any time.

The sharp decline in BAIC's new energy sales may have long been doomed. Thanks to the support of national policy, the new energy market is rising rapidly, and BAIC New Energy has expanded wantonly in ride-hailing, taxi and other fields. However, at present, the industry has gradually saturated, resulting in a continuous collapse in sales. Some people in the industry said, "BAIC has a lot of sales volume purchased by travel companies, and the development of travel companies basically stagnated in the first half of this year, which greatly affected BAIC Blue Valley."

BAIC New Energy is also aware of the problem and will enhance the attractiveness of the private market in an attempt to recover lost market share through high-end brands. In October this year, the first production car of the ARCFOX polar fox brand of BAIC New Energy was officially launched. ARCFOX α T launched a total of five models with three battery life versions, with NEDC mileage of 480km, 600km and 653km respectively, with a subsidised price range of 24.19-319900 yuan.

Whether this model can be recognized by the market remains to be tested, but it can be predicted that the development of BAIC ARCFOX polar fox brand will not be very smooth. In the domestic pure electric vehicle market, the concentration of high-end brand models to the head enterprises is becoming more and more obvious. if ARCFOX α T does not have enough product competitiveness, the follow-up market pressure is still great.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat