BAIC's revenue in the first three quarters increased by 63% compared with the same period last year, and sales increased by 91%.
On October 27, Beijing Auto Blue Valley (SH.600733) released its third-quarter report that operating revenue in the first three quarters of 2023 was 9.308 billion yuan, up 63% from a year earlier. In terms of sales volume, in the first three quarters of 2023, the company's sales reached 54753 units in an environment of general price reduction and fierce market competition, an increase of 91% over the same period last year.
The significant growth in revenue and sales is mainly due to the fact that the company effectively promotes the landing of "scene-based cars", continues to enhance the product power of the Jihu brand, and effectively broadens the product range. By providing "a good car + crowd segmentation experience solution", the Jihu brand has achieved a single breakthrough and achieved greater potential for sales growth.
In the first three quarters, polar fox alpha S advance version, polar fox alpha S forest version, polar fox alpha T forest version and polar fox koala have been listed successively to meet the personalized travel needs of users in market segments. Among them, the "world's first intelligent parent-child car," the polar fox koala, has successfully opened up a parent-child travel track by setting up three benchmarks of health, safety and convenience.
At the same time, the Jihu brand continues to improve the channel construction, explore the channel sinking space, improve the marketing system, and strengthen the marketing ability.
With the growth of sales volume and the continuous enhancement of business capacity, BAIC Langu continues to increase its R & D investment to consolidate its core competitiveness. In the first three quarters, BAIC Blue Valley R & D expenditure was 759 million yuan, an increase of 21% over the same period last year.
Next, BAIC Langu will rely on the rapid development advantages of the skateboard platform to launch a variety of product resources to achieve joint efforts and seize the minds of users. According to the plan, in 2023 and 2024, Polar Fox will successively launch seven new products based on the concept of scene-building, and gradually realize the complete transformation of product strategy from competitive bidding to scene-based application. Based on this, BAIC New Energy will keep up with the pace of the market, continue to deepen the development of "scene-based car", and promote the further upgrading of production and operation efficiency by strengthening fine management and continuously improving operational efficiency.
