FAW Group 2019 auto sales edge up 1.3%, full-year revenue hits RMB620 billion

Shanghai (Gasgoo)- FAW Group sold 3.464 million vehicles through 2019, achieving a growth of 1.3% compared with the year-ago period, and outpacing the overall auto industry by 10 percentage points, the state-owned automaker announced via its WeChat account.

The group saw its full-year revenue of 2019 climb 4.4% year on year to RMB620 billion, for the first time surpassing 600 billion. Besides, its annual profit also edged up 2.2% to RMB44.05 billion.

（Photo source: Hongqi)

Self-owned brands defied the overall downward trend. According to FAW Group, the 2019 sales of its premium car brand Hongqi exceeded 100,000 units, fulfilling this sales target one year ahead of schedule. Moreover, FAW Jiefang sold nearly 335,700 heavy-/medium-/light-duty trucks last year.

(Photo source: FAW-Volkswagen)

As for joint venture's performance, FAW-Volkswagen said that both outputs and sales in 2019 topped 2 million units, the only PV manufacturer in China making such achievement. The expanding product lineup is critical to the blooming sales. Last month, the joint venture rolled out over 10 new models under three sub-brands—Volkswagen, Audi and Jetta, covering all-new SUVs and NEV models.

（Photo source: FAW-Toyota)

Additionally, FAW-Toyota reported a year-on-year increase of 2% with 737,500 new cars sold in 2019. The annual sales of the Avalon totaled 62,329 units, 20% more than the original target. The Corolla, whose entire model series comes standard with level 2 autonomous driving features, had a sales volume of 357,798 units. Moreover, the joint venture also sold 125,977 RAV4s, 52,989 IZOAs and 35,401 Prados. A total of 4,954 Vellfire Hybrids were sold through 2019.