AutoBeta(AutoBeta.net)06/15 Report--

On June 15, BAIC Blue Valley released the latest data showing that car sales in May 2021 were 1197, down 43.16% from 2106 in the same period last year. The cumulative sales in January-May were 5374, down 54.04% from 11692 in the same period last year.

According to the Federation of passengers, sales of new energy vehicles in May 2021 were 185000, an increase of 177.2% over the same period last year, and the cumulative sales from January to May of 2021 were 776000, an increase of 235.7% over the same period last year. According to the data, domestic new energy vehicles are in the stage of rapid development, and the sales volume of new energy vehicles continues to grow. Of course, the growth at the data level is mainly due to the impact of last year's epidemic, but in this context, BAIC New Energy sales both monthly sales and cumulative sales have halved year-on-year, the market performance is not very optimistic.

It is worth mentioning that on June 9, BAIC Blue Valley announced that Liu Yu, the former manager of the company, had submitted a written resignation report and that he no longer held the position of manager of the company, which meant that he was no longer directly involved in the work of BAIC Blue Valley at the executive level, but continued to serve as chairman of BAIC Blue Valley and chairman of the Board of Directors Strategy Committee. In addition, the company has agreed to appoint Ms. Dai Kangwei as a professional manager for a term of three years with a probationary period of one year. According to previous reports, Liu Yu began to serve as the manager of BAIC Blue Valley New Energy Technology Co., Ltd. in July 2020, but the position changed again less than a year after taking office.

Behind the change of office is the most direct manifestation of the poor management of BAIC Blue Valley. According to the data, BAIC New Energy sold 25914 vehicles in 2020, down 82.79% from the same period last year. The operating income for the year was 5.27 billion yuan, down 77.6% from the same period last year, with a net loss of 6.482 billion yuan. The cumulative sales of BAIC New Energy in the first quarter of this year was 3149 vehicles, down 65.01% from the same period last year. During the reporting period, operating income reached 830 million yuan, down 50.19% from the same period last year, with a net loss of 854 million yuan. It is not difficult to see that although Liu Yu has worked in BAIC for many years and has rich work experience, he has failed to reverse BAIC's new energy situation after taking up the position of general manager of BAIC Blue Valley.

Earlier, Liu Yu said when he was the general manager of the company that BAIC Langu would change from a traditional manufacturing industry to a real ICT enterprise in two or three years. BAIC internal staff said: "the official launch of the polar fox alpha S and polar fox alpha S.HI versions launched by BAIC Langu and Huawei not only marks the landing of both sides in the field of electric vehicles, but also a clear signal of BAIC Langu's transformation into an ICT enterprise."

Huawei has partnered with BAIC Blue Valley to launch the ARCFOX α S Huawei HI version, with an advance price of 38.89-429900 yuan. It is understood that the model is equipped with Huawei self-driving technology, equipped with Huawei smart car solution, integrated Huawei intelligent high-order autopilot system, Hongmeng OS Smart + connected cockpit and so on. This model represents Huawei's highest level of self-driving at present. However, the model will not appear in Huawei experience stores, but will choose to sign a strategic cooperation with Guanghui Motor to lay out sales channels, which not only requires a huge amount of money, but also slows brand promotion a lot. Under such circumstances, it is difficult to improve sales qualitatively in the short term.

According to the plan, 60 stores will be put into operation by the end of June, covering 22 cities; 100 stores will be put into operation in 40 cities, which account for 94% of the total electric car market by the end of this year; and a total of 150 stores will be opened by 2022. At the product planning level, ARCFOX Polar Fox will release 1-2 new models every year. It is understood that the third model will be unveiled at the end of next year and will form four major product lines covering from A + to B by the end of 2023.

BAIC new energy sales continue to decline, not only caused by the market, more is its own product problems. Therefore, how to reverse the market situation of BAIC new energy is not only the primary task of the new leaders, but also a huge problem after the new leaders take office.

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