AutoBeta(AutoBeta.net)07/13 Report--

According to the latest figures released by BAIC Blue Valley on July 13, car sales in June 2021 were 1587, down 47.31% from 3008 in the same period last year, and the cumulative sales in the first half of 2021 were 6959, down 52.66% from 14700 in the same period last year.

According to the Federation of passengers, sales of new energy vehicles in June 2021 were 230000, up 177.7% from the same period last year, and the cumulative sales in the first half of 2021 were 1.007 million, up 220.9% from the same period last year. Judging from the data, domestic new energy vehicles are in the stage of rapid development, and the sales of new energy vehicles continue to grow, but in this context, BAIC's new energy sales continue to halve. In the past, as the benchmark and model of the domestic new energy vehicle industry, now it has lost its former elegant demeanor.

As we all know, BAIC New Energy has become the top pure electric sales in China for six consecutive years. BAIC New Energy leads the market with sales of 150601 vehicles in 2019. However, since the subsidy of new energy vehicles has fallen back, the impact of the epidemic on the domestic market has been superimposed, and the user travel market is gradually saturated, BAIC New Energy, the former sales champion, has lost its glory, and its annual sales fell by more than 80% in 2020. The annual loss is more than 6.4 billion yuan.

The loss of the low-end market has become a reality, the deadlocked BAIC New Energy wants to save the market through high-end brands, so BAIC Jihu brand was born at the right time. In October 2020, BAIC New Energy launched its first high-end model, ARCFOX α T, with a price of 24.19-319900 yuan. New brands and new models bear the important task of BAIC's upward development of new energy, but the results are unexpected. At present, the monthly sales of this model is only about 100 vehicles. Liu Yu, general manager of BAIC Blue Valley, once said that "it will take three years to bring BAIC New Energy back to the first camp" and set a target of 12000 ARCFOX polar foxes to be sold in 2021, which is very likely not to be achieved in 2021.

It is undeniable that Jihu, which made its debut at the Shanghai Auto Show, gained a lot of heat. Thanks to the blessing of Huawei, BAIC Blue Valley's share price reached a new high, but this wave of heat was fleeting. Instead of bringing BAIC new energy back to its peak, it fell back to the original point.

The breakthrough from the high-end brand has become the last straw for BAIC Blue Valley. Before that, the Beijing Securities Regulatory Commission has approved the directional additional issuance plan of BAIC New Energy of 5.5 billion yuan, and the financing of this plan will also be fully invested in the brand construction of ARCFOX polar fox, making every effort to bet that ARCFOX polar fox has not brought substantial progress. In fact, BAIC New Energy is one of the few domestic enterprises that have fully mastered the core technology of pure electric vehicles, integrated matching control technology, complete vehicle platforms, core components and vehicle test verification, but it is still very difficult to recover the market through BAIC's polar fox.

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