Hongqi’s monthly sales top 20,000 units for three straight months

Shanghai (Gasgoo)- FAW Group's premium car brand Hongqi said its Oct. sales soared 93% over a year ago to roughly 23,000 units, exceeding 20,000 units for the third month in a row.

For the first ten months of 2020, Hongqi sold around 153,000 vehicles in total, posting a robust year-on-year surge of 103% and achieving 76.5% of the 200,000-unit sales goal it sets for 2020. In all likelihood, the premium brand will fulfill the target as long as it keeps the stable upward movement.

Hongqi H9; photo credit: Hongqi

As FAW's self-owned brand, Hongqi is by no means insignificant to China's premium car segment. In September, Hongqi's sales were 21,518 units, which stood between Lexus' sales of 20,090 units and Cadillac's 26,000 units, and outnumbered Volvo for five straight months.

The growth was mainly driven by the sale of the HS5 and the H5. The earlier data show that two models accounted for nearly 86% of the brand's Jan.-Sept. sales. Hitting the market at the end of August, the Hongqi H9 to some degree contributed to the sales increase with 2,501 units sold in Sept..

Last month, Hongqi unveiled its product planning designed for the next decade. It intends to form a lineup consisting of four series—L, S, H and Q, which includes such models as the Hongqi H6, the all-new H5, the HS9, the HS6, the HS3, the L3, the L1, the LS7, the LS3, the LQ7, the S5 and a MPV model. By the end of 2030, Hongqi's family is planned to be expanded to 30 models.