AutoBeta(AutoBeta.net)03/25 Report--

On March 24, Beijing Automobile announced its annual results for 2010. during the reporting period, the company achieved operating income of 176.973 billion yuan, an increase of 0.89% over the same period last year, and the net profit of shareholders belonging to listed companies was 2.029 billion yuan, down 59.39% from the same period last year. Beijing Auto said in its announcement that the increase in operating revenue was mainly due to the increase in revenue of Beijing Mercedes-Benz.

According to the announcement, Beijing Mercedes-Benz's total revenue in 2020 was 169.695 billion yuan, up 9.37 percent from 155.154 billion yuan in 2019, while gross profit was 45.977 billion yuan, an increase of 8.91 percent over the same period last year, mainly due to the increase in Mercedes-Benz sales. The total revenue of Beijing brands in 2020 was only 7.579 billion yuan, down 62.82 percent from 20.385 billion yuan in 2019, while the gross profit was 3.666 billion yuan, compared with 4.582 billion yuan in the same period last year, mainly due to the decline in brand sales in Beijing and the decline of new energy subsidies.

According to public data, Beijing Automobile is one of the five major automobile groups in China, mainly engaged in passenger car R & D and manufacturing, spare parts manufacturing, automobile service trade, R & D, education, investment and financing, and so on. among them, the passenger car business is carried out through Beijing Mercedes-Benz, Beijing Hyundai, Fujian Mercedes-Benz and Beijing brands.

Judging from the financial results, Beijing Auto derives most of its revenue from Mercedes-Benz, a veritable "profit cow". As for Beijing Mercedes-Benz, it was able to grow under the influence of the epidemic, mainly because it was the first to return to work during the epidemic, and its sales increased during the year. Figures show that Beijing Mercedes-Benz sold 611000 vehicles in 2020, an increase of 7.7 percent over the same period last year. The Chinese market is the largest single market for Daimler Group. Mercedes-Benz has launched a new generation of S-Class in the first quarter, and a new generation of C-Class will also be listed this year. In addition, Mercedes-Benz will also start the "EQ" era, launching EQB, EQA, EQE and other new energy models.

The current development of the Beijing brand is not optimistic, with cumulative sales of 82000 vehicles in 2020, mainly from BEIJING X3 and BEIJING X7, with monthly sales at the level of 1000-2000 vehicles. In addition, BAIC New Energy, a new energy brand owned by Beijing Automobile, sold only 25914 vehicles this year, down 82.79 per cent from a year earlier.

Beijing Hyundai, one of the joint venture brands, has been developing for nearly 20 years, but the current development situation is really not optimistic. Beijing Hyundai sold 502000 vehicles in 2020. Beijing Hyundai launched the seventh generation Elantra, the tenth generation Sonata, the new ix35 and other models to renovate the brand. According to the planned plan, Beijing Hyundai has a sales target of 560000 vehicles in 2021. Beijing Hyundai has launched a new map this year, Tuguan L will be officially launched in April, and a MPV model will also be launched this year, but it will be difficult to change the "low-end and cheap" brand image in a short period of time.

As for Fujian Mercedes-Benz, only two models of Mercedes-Benz V-Class and Weiting are on sale, with a total sales of 30000 vehicles this year, an increase of 6.2% over the same period last year. Mercedes-Benz V-Class and Weiting's medium-term modified models went on sale in September last year.

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