FAW Jan-Jul sales up 21% to 978,432 units

Shanghai, August 25 (Gasgoo.com) China's auto-making giant FAW Group Corp sold a total of 978,432 vehicles from January to July, increasing 21% year on year (y/y) and completing 56.6% of this year's sales target. Of this total, 108,095 units were sold in July, said xinhuanet.com today.

FAW said that in the first seven months this year the group sold 774,639 sedans, up 23.9% y/y, gaining 22.6% market share, and it also sold 128,113 mid- to heavy-duty trucks, up 27% y/y, gaining 23.3% market share. FAW's total sales of 978,432 vehicles from January to July captured 16.7% market share in China's auto market in that period, up by 0.6 percentage point y/y.

From January to July 2008, FAW-VW sold 304,207 vehicles, leading the sales of sedan makers in China; FAW Toyota sold 229,700 vehicles, up 69.6% from one year earlier. The two joint ventures have been the big contributors to the sales of FAW Group for many years.