(Source: CnEVPost)
Chinese new energy vehicle maker BAIC BluePark sold 1,197 units in May, down 43.16 percent from 2,106 units in the same month last year, data released by the company showed on Wednesday.
Its cumulative sales from January to May were 5,374 units, down 54.04 percent from 11,692 units in the same period last year.
BAIC BluePark's business conditions have continued to deteriorate in recent years, with its annual sales of 150,600 units in 2019 and plummeting to 25,914 units in 2020. The company blames the plunge in sales on the "withdrawal of new energy vehicle subsidies".
BAIC BluePark reported revenue of RMB 830 million ($12.961 billion) in the first quarter of this year, down 50.19 percent year-on-year.
It reported a net loss of RMB 854 million in the first quarter, up from a net loss of RMB 431 million in the same quarter last year.
BAIC BluePark's operating income in 2020 was RMB 5.272 billion, down 77.65 percent year-on-year, with a net loss of RMB 6.482 billion, compared to a net profit of RMB 92 million in the same period last year.
In fact, as the number one local Chinese new energy vehicle brand in terms of sales, BAIC BluePark had kept the number one pure electric vehicle sales in China for seven consecutive years from 2013-2019, of which the sales in 2017 even surpassed Tesla to become the global pure electric vehicle sales champion.
BAIC BluePark announced on June 9 that Liu Yu, the former manager of the company, has submitted a written resignation report, and he no longer holds the position of manager of the company, but continues to hold the positions of chairman of BAIC BluePark and chairman of the strategy committee of the board of directors.
The company appointed Ms. Kang Wei as the company manager for a three-year term with a one-year probationary appointment.
How to turn around the market situation of BAIC BluePark is the first task of the new leader and a huge problem for the new leader after taking office.
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