Gasgoo Munich- On January 21, FAW Group convened its 2026 Hongqi Supply Chain Partner Conference, where the automaker outlined its latest operating results. In 2025, FAW Group sold 3.302 million vehicles across the group, with annual revenue surpassing 541.5 billion yuan, reinforcing its position among the industry's top performers in overall profitability and scale.
Image source: FAW Group
Hongqi stood out as a key growth engine within the group. Supported by stronger coordination among its three sub-brands, the marque recorded annual sales of more than 460,000 units, extending its streak of year-on-year growth to eight consecutive years. It also became the first Chinese luxury auto brand to surpass two million cumulative users.
Speaking at the event, FAW Group's General Manager Liu Yigong described 2026 as a pivotal starting point for the group's next five-year plan, set against a broader restructuring of the automotive supply chain. FAW has set a group-wide vehicle sales target of 3.546 million units for the year, with Hongqi expected to reach 550,000 units. Looking further ahead, the brand aims to approach the one-million-unit milestone by 2028.
FAW's expansion strategy is also reshaping its home base of Changchun. Local plans call for the accelerated development of a trillion-yuan automotive industry cluster, with targets to exceed 1.4 million new energy vehicle units in annual output by 2030 and to lift local sourcing of core components to 60%.
Yet the figures also underscore a deeper test ahead. For Hongqi, the real question is not simply whether it can hit 550,000 units, but how much of that volume will come from genuinely competitive new energy vehicle models. For FAW as a whole, the challenge lies in mobilizing its vast mix of joint-venture and proprietary assets, ensuring that the transition toward electrification and smart mobility becomes a group-wide transformation rather than a solo performance led only by Hongqi.
