For 7 consecutive years, the sales of pure electric vehicles in China were the highest, but now the sales of BAIC New Energy plummeted by 80%

A few years ago, before the domestically produced Tesla entered the domestic market, many people would have never imagined that the first domestic electric vehicle sales volume was BAIC New Energy.

However, with the changes in the domestic new energy vehicle market environment, BAIC New Energy has not been able to keep up with the pace of change. In the electric vehicle competition camp, the weak competition is becoming more and more obvious, and sales have plummeted.

Recently, the latest sales data released by BAIC New Energy, a subsidiary of BAIC Blue Valley, showed that BAIC New Energy sold 2,245 vehicles in September, a year-on-year decrease of 77.57%. In the first September of this year, BAIC New Energy’s cumulative sales were 21,000 vehicles, a year-on-year decrease of 78.57%.

As the saying goes, there is no harm without comparison. How downright BAIC New Energy is now, it was so energetic at the beginning.

In the past few years, BAIC New Energy has developed rapidly. Its sales have increased from 20,000 vehicles in 2015 to 150,000 vehicles in 2019. It has become the number one in the domestic pure electricity market for 7 consecutive years.

However, now, with the gradual decline of domestic new energy vehicle promotion subsidies, and the success of new car manufacturers, Tesla, BYD and other auto companies, the domestic pure electric vehicle market share has been further seized. The space for BAIC New Energy is getting smaller and smaller.

Regarding the plummeting sales volume, BAIC Blue Valley once analyzed in this year's semi-annual report that the new energy vehicle industry in the first half of 2020 is facing tremendous pressure. First, the industry sales volume has fallen sharply, and incremental market competition has shifted to inventory market competition;

The second is the extremely fierce competition in the industry, which has promoted the reshaping of the competitive landscape of the new energy automobile industry; the third is that new energy automobile companies are facing the dual challenges of electrification and intelligent technological innovation and upgrading, and product updates are accelerating. New energy automobiles are changing from The high-quality direction of "good or bad" accelerates.

In addition, due to the impact of the epidemic this year, the demand for vehicles in the field of online car- hailing has decreased, and the sales of BAIC’s EU-5 and EU-7 models have declined; among the high-end pure electric models, BAIC’s newly launched arcfox brand has not yet been verified by the market. Competitiveness is still difficult to compare with brands such as Tesla and NIO.

Moreover, BAIC’s previous important volume models, A00-class pure electric vehicles, are limited by the multiple impacts of increasingly higher requirements for non-licensed cities, declining subsidies, and intensified competitive environment . The price advantage of BAIC’s A00-class electric vehicles is further enhanced. Compression, and the lack of product strength, which also led to a further decline in sales.