Hongqi boasts 88% year-on-year surge in Q1 sales

Shanghai (Gasgoo)- Hongqi, the premium auto brand of FAW Group, sold over 25,000 vehicles during the first quarter of 2020, achieving a remarkable surge of 88%, according to Hongqi Sales Company.

Deducting the sales volume of Jan. (12,630 units, +142.7%) and Feb. (3,752 units, +32.5%), we can get the volume for March alone—over 8,618 units, soaring 129% month on month.

(Photo source: FAW Hongqi's WeChat account)

This is an extremely uplifting performance as the whole market was significantly hit by the novel coronavirus. It is estimated that China’s PV retail sales (referring to locally-produced cars, SUVs and MPVs) would plunge roughly 40% from the prior-year period, according to the China Passenger Car Association (CPCA).

(Photo source: FAW Hongqi's WeChat account)

The brand has six models on sales to-day, namely, the H5, the H7, the L5, the HS5, the HS7 and the E-HS3 BEV, including both SUVs and sedans, and is ambitious to form a massive product matrix composed of 21 models by 2025, of which 18 will be NEVs. The Hongqi H9 full-sized sedan made its world's debut in early January and the presale has kicked off a few days ago. The all-new model is set to hit the market in June 2020.

(Photo source: FAW Group)

Hongqi is ambitious to sell 200,000 vehicles in 2020. To achieve that goal, the automaker endeavors to lift its production capacity. On March 2, the revamped projected was completed and put into production, six days ahead of schedule. The retrofitting makes Hongqi's annual capacity grow to 150,000 units from 100,000 units.

Disturbed by the epidemic, most automakers and dealers were compelled to extend business shutdown after the Spring Festival. Leveraging digital channels, Hongqing Sales Company resumed works on Feb. 3 through the online platform “FAW Easy”, making each employee fitting into its place without one day break.

Starting Feb. 10, the online work resumption took place across Hongqi's 209 experience centers, From live-streaming platforms like Douyin and Kuaishou to e-commerce platforms such as Tmall and WeChat group-buying group, Hongqi puts forth great efforts to develop its digital marketing business. As of March 20, there have been 200 dealerships resuming full operation.