Chinese carmaker BAIC posts robust sales growth in 2023

BEIJING -- Chinese automaker Beijing Automotive Group Co Ltd (BAIC Group) sold some 1.7 million vehicles in 2023, a robust year-on-year growth of 17.6 percent, the company said on Saturday.

The Beijing-based company achieved annual revenue of approximately 480.3 billion yuan ($67.58 billion) last year.

Additionally, the company reported a year-on-year increase of 73.5 percent in its exports of vehicles that totaled 190,000 in the year.

Notably, the company's iconic "Beijing"-branded cars saw sales increase by 60 percent in 2023, and their overseas sales more than doubled from 2022.

BAIC Group continued to expand its international footprint in 2023. Beiqi Foton, a subsidiary of BAIC, secured orders for over 2,000 new-energy buses in the Indian market, while the company's first overseas passenger car production base in South Africa went operational last year.

Currently, the company has presence in 49 countries and regions worldwide.