China’s leading automaker posts strong sales growth

CHANGCHUN (XINHUA) – First Automotive Works (FAW) Group Co Ltd, China’s leading automaker, sold 322,471 vehicles in July, up 23.2 per cent year on year, according to corporate sources.

Its iconic sedan brand Hongqi sold 17,508 vehicles last month, an increase of 98.8 per cent year on year.

The group’s joint ventures FAW-Volkswagen and FAW Toyota also reported a growth of 6.9 per cent and 40 per cent in sales in July.

Despite the COVID-19 epidemic, FAW Group’s major brands have been expanding online and offline sales channels and launching new products while stabilising production. Hongqi has rolled out two new models this year, aiming at the high-end auto market. The brand fulfilled its sales target of 100,000 cars in 2019 and has doubled the target for 2020.

With a younger and more market-oriented design style, Hongqi plans to roll out 21 new models in five years.