FAW Xiali's sales fall over 34% in August

Gasgoo.com (Shanghai September 15) - Tianjin FAW Xiali, a subsidiary of FAW Group, has recently released its monthly performance review for August. The own brand manufacturer sold a total of 10,200 vehicles last month, Caijing reported today. It manufactured a total of 10,900 vehicles during the month. Both sales and production figures represent negative year-on-year growth of 34.72 percent and 34.53 percent, respectively.

The Xiali series remained the manufacturer's best performing model, with a total of 7,323 units sold and 7,020 produced over the month. Monthly sales and production numbers for the Weizhi family of vehicles were 2,877 units and 3,910 units, respectively. Year-on-year growth rates for sales and production for both model lines were in the negative double digits.

FAW Xiali's performance last October was very strong, making it one of the month's best performing own brand manufacturers. However, in the months that followed, the manufacturer's growth rates begun to drop, declining as much as 40 percent in January and March of this year. Its growth rates, which have remained negative ever since, are far below industry averages. According to the China Association of Automobile Manufacturers, a total of 1.21 million Chinese-made passenger automobiles were sold last month, 11.3 percent less than the amount sold a month before.

The manufacturer has sold 126,100 vehicles and produced 131,100 vehicles over the first eight months of the year.

FAW Xiali's stock rose 0.78 percent on Wednesday, finishing at 5.18 yuan ($0.818).