BAIC Group: Growing own brands combined with strong foreign brands
2015 vehicle sales forecast to be between 2.8 and 3.0 million units
The BAIC Group, a major Chinese automotive group, achieved sales of over 2.11 million units in 2013 and 2.4 million units in 2014, ranking fifth place in China and achieving a 13.7% year-on-year (y/y) increase. In addition, its core passenger-car OEM Group company, BAIC Motor Co., Ltd., was listed on the Hong Kong Stock Exchange (non-CNY H shares) at the end of December 2014.
In 2015, along with aiming to become the 15th largest OEM in the global automotive market, the Group is aiming to be listed in the Fortune 500 and sell between 2.8 and 3.0 million units.
The BAIC Group's foreign brands include Hyundai and Mercedes-Benz, which achieved y/y increases in 2014 of 8.7% and 25.9%, respectively, showing strong performance.
The Group's major brands are the Beijing, Foton, Jiangxi Changhe Automobile Co., Ltd.'s (which was merged into a subsidiary) Changhe and Suzuki brands, on which the Group is developing and expanding both its passenger-car and commercial-vehicle operations. The Beijing brand is developing three vehicle series, namely, the Senova, the Wevan, and the FAW/E.
The following outlines the BAIC Group's organizational structure after BAIC Motor Co., Ltd. was listed on the Hong Kong Stock Exchange. In addition, this report explains the BAIC Group's mid-to-long-term business plan for its own brands, its mid-to-long-term sales targets that include new-energy vehicles, and the plans for these vehicles.
Mercedes-Benz's China strategy and three premium brands' sales volume (Jan. 2015)