Beijing Auto sells 746,000 vehicles in first half, up 28.2%

Beijing Automotive Industry Holding Co (BAIC), China's fifth-biggest carmaker, said yesterday that in the first half of this year it produced 733,000 vehicles, up 25 percent year on year, and sold 746,000 units, up 28.2 percent from a year earlier, finishing more than half of its sales and production targets of 1.4 million units for 2010.

In the first six months of this year, BAIC gained 737 million yuan ($109 million) in operating income, up 43 percent from a year earlier and posted a profit of 5 billion yuan ($738 million), which more than doubled the figure over the same period last year, approaching its annual goal.

Moreover, Beijing Hyundai, a joint venture between Hyundai Motor and Beijing Auto, has also posted strong sales thanks to strong demand for its two compact crossovers SUVs Hyundai ix35 and Hyundai Tucson and its adjustment on sales of Hyundai D-Class and SUV models.

With the help of some high added-value products like Midi and Auman, Beiqi Foton Motor, a subsidiary of BAIC, has gradually become a driving force for Beijing Auto's sales growth as well.

In addition, sales of Beijing-Benz's C-Class sedan hit record high of 87.7 percent in the first half of this year. Apart from that, the joint venture has already imported the stretched version of C180 into China to keep its growth momentum.

In the second half of this year, Beijing Auto plans to accomplish or improve some eight projects. They are one Beijing auto R&D base, one passenger car base, one powertrain base, one new energy base, the second heavy truck factory in Huairou District, in Beijing, the third factory with Beijing Hyundai, technical upgrading of the Mercedes-Benz E-Class L (code-named V 212) and so on.