FAW Group sees July sales vigorously grow 23.2% from a year earlier

Shanghai (Gasgoo)- FAW Group said its new vehicle outputs and sales leapt 28.6% and 23.2% from a year earlier respectively to 337,265 units and 322,471 units in July.

Both PV and CV sectors attained manifest growth in production and sales volumes last month. Specifically, PV outputs and sales reached 286,263 units and 275,507 units, jumping 18% and 15.6% year on year respectively, while the CV arm boasted much bigger increase by producing 51,002 vehicles (+159.4%) and selling 46,964 vehicles (+99.5%).

(All-new Hongqi H5, photo source: Hongqi)

With 17,508 units sold, Hongqi scored a remarkable 98.8% growth in July, achieving its seventh-month-in-a-row year-on-year growth for the year of 2020.

According to FAW Group and Hongqi's earlier statements, the premium auto brand saw its Jan.-Jul. sales add up to 87,553 units, which were more than doubled over a year ago. As of July, Hongqi has completed nearly 44% of its 200,000-unit annual sales target.

As one of sales contributors of Hongqi, the Hongqi H5's refreshed version formally hit the market at the 2020 China Changanchun International Automobile Expo in July and significantly contributed to the brand's July sales growth.

(Besturn T99, photo source: FAW Besturn)

Another indigenous PV brand, Besturn, produced and sold 1,940 and 3,401 new vehicles during the same month.

The CV-focused Jiefang saw its July output shoot up over 160% year on year to nearly 50,000 units in July, and its sales were doubled to more than 45,000 units.

As for joint ventures, the sales of FAW Mazda, FAW-Volkswagen and FAW-Toyota amounted to 8,106, 168,492 and 78,086 units, growing 1.2%, 6.9% and 40% over the previous year.