FAW Hongqi’s auto sales zoom 110% YoY in August

Shanghai (Gasgoo)- Hongqi, Chinese luxury car brand owned by FAW Group, saw its sales hit a record high of over 21,000 units in August, a substantial year-on-year growth of 110%, according to a posting on Hongqi's WeChat account.

As of August, the premium brand has gained year-on-year sales growth for the eighth month in a row so far this year.

(Photo source: Hongqi)

For the first eight months, Hongqi's cumulative sales surpassed 108,500 units, surging 108% over a year earlier. By the end of August, the automaker has completed 54.25% of its 200,000-unit annual sales target. In spite of the incessant increase, Hongqi still needs to double its efforts to fulfill the goal over the next four months.

(Hongqi H9, photo source: Hongqi)

As for the launch of new products, FAW Hongqi's H9 full-sized luxury sedan officially hit the market on August 23. With five trim levels offered at one go, the new car model is sold at a price range of 309,800 yuan ($45,232) to 539,800 yuan ($78,813).

(Hongqi E-HS9, photo source: Hongqi)

Hongqi's all-new large-sized all-electric SUV, the Hongqi E-HS9, made its world's debut on July 28 with its presale kicking off at the same time. The new BEV model can be regarded as the mass-produced version of the Hongqi E115 concept that was unveiled at the Frankfurt Motor Show 2019. It is expected to hit the market in the fourth quarter of the year.

Wang Guoqing, vice president of FAW Group, revealed that Hongqi will roll out 3 to 5 new models per year over the next five years and it has already mapped out 24 to 25 new products.

FAW Group said in early January that 21 new models will be launched in the next five years under its premium brand Hongqi, with annual sales expected to exceed 600,000 units by 2025.

Xu Liuping, chairman of FAW Group, noted that 18 of the 21 new models will be new energy vehicles.