FAW nabs year-on-year growth in both Oct. sales and outputs

Shanghai (Gasgoo)- FAW Group sold 354,504 new vehicles in October, a year-on-year growth of 6.8%, and saw its production volume jump 12% to 341,323 units. 

As of October, the state-owned automaker said its year-to-date sales rose 7.8% to 3,011,248 units, and outputs totaled 2,979,465 units, an increase of 9.7% from a year earlier.

Hongqi cars; photo credit: FAW group

The premium brand Hongqi scored a year-over-year hike of 93.6% with 23,018 new vehicles sold last month.

For the first ten months of 2020, Hongqi sold around 153,109 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.

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.

Jiefang trucks; photo credit: FAW Group

The group's truck subsidiary FAW Jiefang produced nearly 38,000 and sold around 35,000 new vehicles in October, posting 32% plus and nearly 20% growth over the previous year.

In the Jan.-Oct. period, the leading truck manufacturer witnessed its total sales soar 44% from the previous year to 439,000 units.

Besturn B70; photo credit: FAW Group

Besturn, one of FAW's self-owned brands, output 3,358 and sold 4,931 vehicles last month. The all-new Besturn B70 will roll off the production line today and is set to hit the market at the end of November.

As for joint venture, FAW-Volkswagen saw its Oct. sales climb 5.6% year over year to 220,574 units. The joint venture inked an MoU with Volkswagen AG at the 3rd CIIE (China International Import Expo) to import CKD and Audi-branded complete vehicles from the German auto giant.

Additionally, two Sino-Japanese joint venture, FAW-Toyota and FAW-Mazda, sold 65,057 (+6.6% YoY) and 5,007 vehicles in October respectively.