Gasgoo Munich - Gasgoo reported on January 22 that China FAW Group convened its 2026 Hongqi Supply Chain Partner Conference yesterday at the Hongqi Hall. The meeting revealed that full-year vehicle sales hit 3.302 million units in 2025, while revenue topped 541.5 billion yuan — keeping the group’s operational performance at the forefront of the industry.
Hongqi stood out, with significant synergy across its three sub-brands driving annual sales past 460,000 units. That marks eight straight years of growth, making it the first Chinese luxury automaker to surpass 2 million cumulative users.
Image Source: FAW Hongqi
Liu Yigong, general manager and deputy Party secretary of China FAW, noted that 2026 marks the start of the 15th Five-Year Plan — a critical phase for restructuring and upgrading the automotive supply chain. The group has set a full-year sales target of 3.546 million vehicles. Hongqi, specifically, is aiming for 550,000 units and plans to break the million-unit mark by 2028.
As FAW pushes its broader strategy, Changchun’s automotive sector is scaling up in tandem. Plans call for accelerating the development of a trillion-yuan auto industrial cluster, targeting NEV production of over 1.4 million units by 2030. The city also aims to raise the localization rate for core components to 60%.
Yet the real challenge for Hongqi isn't just hitting the 550,000 figure — it is how much of that volume comes from NEV models that can genuinely compete in the market. For FAW, the broader task is revitalizing its vast joint venture and proprietary resources, ensuring the transition isn't left to Hongqi to perform as a solo act.
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