FAW Hongqi targets higher annual sales in 2019

Shanghai (Gasgoo)- Hongqi, the state-owned FAW Group's premium auto brand, is likely to see the annual sales of 2019 reach 110,000 units, rather than 100,000 set at the beginning of this year, Xu Liuping, Chairman and Party Secretary of FAW, said on November 26.

According to the group, Hongqi witnessed a total sales volume of 33,028 units in 2018, which was skyrocketing 602% from the previous year, since the brand released its development strategy of “New era, New Hongqi” in January, 2018. Besides, its Jan.-Oct. sales in 2019 soared 217% from a year ago to 75,520 units, completing 75.52% of the annual sales goal.  

The Chinese automaker said it aimed to sell 100,000 Hongqi-branded vehicles in 2020, 300,000 units in 2025 and 500,000 units in 2035. The luxury car marque also launched its plan for products which mainly include four series—L, S, H, and Q.      

Obviously, the surging sales volume is part of fruits from Hongqi's active roll-out of new products. The automaker put two SUV models—the HS5 and the HS7—into the market in May and July. It also showcased its concept model the E115, an large-sized all-electric SUV at the Auto Guangzhou 2019.

In the new energy field, the FAW-owned brand is ambitious to achieve electrification of all its models. It launched the first all-electric model, the E-HS3, in August this year and it is expected to offer electric vehicles with 600-km range based on the FME platform in 2020. It plans to roll out 15 electric models by 2025.

Meanwhile, Hongqi has been developing ICVs (Internet-connected vehicles) and is supposed to make them realize L5 autonomous driving by 2025 (photo source: FAW Hongqi).