Hongqi retail sales skyrocket 520% year on year for first 11 months

Shanghai (Gasgoo)- FAW Group-owned premium car brand Hongqi saw its retail sales climb 5.33% over a month ago to 4,311 units in November, achieving month-on-month (MoM) growth for 9 consecutive months. For the first 11 months, the automaker delivered 24,800 vehicles in total with a tremendous year-on-year surge of 520%.

The retail sales of the Hongqi H7 and the H5 reached 1,405 units and 2,905 units last month, both completing their respective sales target ahead of schedule.

Hongqi's wholesales volume in November amounted to 4,504 units, among which the sales of the H7 and the H5 were 1,506 units and 2,998 units. The automaker received 4,389 units of orders last month including 1,391 H7s and 2,998 H5s.

As one of two sales drivers, the Hongqi H7 C-segment sedan was formally launched in 2013. The existing H7 up for sale is a facelift that hit the market in September last year. The Hongqi H5 B-segment sedan is the brand's first strategic model tailor-made for Chinese younger consumers. It formally went on sales at the Auto China 2018 in Beijing. 

It is reported that Hongqi is ambitious to fulfill an annual sales goal of 100,000 units in 2019. To achieve the target, the automaker will launch a SUV offensive next year by releasing such models as the Hongqi E-HS3, HS7 and HS5 in succession.