Carmaker BAIC Group reports robust growth

Chinese car maker BAIC Group reported robust growth in the first half of this year, with its revenue rising 9.5 percent year-on-year, as well as net profit going up 17 percent.

During the same period, the company delivered 1,203,000 vehicles, an increase of 7.6 percent from the previous year.

The company's implementation of transformation and upgrading to result in high-quality development is working, BAIC Group said.

Innovative development to expand market

The company said it sticks to high-end manufacturing and products.

In the first half of this year, Beijing Benz Automotive, or BBAC, a joint venture between Daimler and BAIC, saw a 19.6 percent year-on-year increase in car delivery to 252,000 units, due to the company catching opportunities in a fast-growing luxury car market.

Fujian Benz Automotive, a joint venture co-invested by Daimler, BAIC Motor and Fujian Motor Industry Group, also posted strong sales performance with car models V-class and Vito selling 13,000 units in the first half of this year, for 40 percent year-on-year growth.

Moreover, Beijing Hyundai, a joint venture between Korean car maker Hyundai and BAIC, returned to the mainstream as its sales reached 380,000 units in the first half of this year, rising 26.2 percent from the same period in the previous year.

BAIC Group also strengthened on independent innovation, and sped up to develop new energy vehicles.

The company said it continues to hold the leading advantage in the new energy vehicles market. In the first half of this year, the company sold 54,000 new energy vehicles, surging 78.5 percent year-on-year, and the market share ranked at the top spot in China and third in the world.

The company's new energy SUV EX360 is the most popular car in its market segment since it started to sell in March, BAIC Group said. And there still are about 10,000 of the vehicles to be delivered.

As a trump card, the company's own brand of off-road vehicle saw a remarkable growth of 37 percent year-on-year, to 14,000 units in the first half of this year.