Beijing (ZXZC)- Beijing-based new energy vehicle maker BAIC BJEV saw its monthly auto sales dip 7.72% from a year ago in July, according to its parent company BAIC BluePark’s announcement issued on August 2.

ARCFOX αS HI; photo credit: ARCFOX

BAIC BJEV sold 3,359 vehicles last month, which summed up to a cumulative volume of 38,550 vehicles (+86.88% YoY) for the first seven months of this year.

BAIC BluePark holds two major wholly-owned passenger vehicle brands, the ARCFOX premium electric vehicle brand, and the BEIJING brand, both of which sells new energy and oil-fueled vehicles. 

The company announced on July 14 that it anticipates a net loss of approximately 1.8 billion yuan to 2.1 billion yuan attributable to shareholders in the first half of 2023, which represents a slight narrowing of losses compared to the 2.18-billion-yuan net loss in the same period last year.

BAIC BluePark has been investing consistently in technology R&D, as well as brand and channel development to enhance its market presence, which all affected its financial performance. According to the company's investor relations activity record, it plans to increase its network of sales outlets to approximately 280 stores by 2023.