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FAW Group’s sales expected to rise 7.3% year on year in 2020

Monika From Gasgoo| December 29 , 2020 14:45 BJT

Shanghai (Gasgoo)- FAW Group's full-year sales in 2020 are expected to reach 3.71 million units, a year-on-year increase of 7.3%, according to Wang Guoqiang, deputy general manager of FAW Group.

For the first eleven months, the Chinese state-owned automaker saw its sales rise 7.7% from the previous year to 3.398 million units. Of those, 387,050 units were sold in November, a year-over-year growth of 7.7%.

FAW Group’s sales expected to rise 7.3% year on year in 2020

Photo credit: FAW Group

The sales of Hongqi, FAW Group's self-owned premium brand, stood at 25,086 units last month, zooming up 100.4% from the year-ago period. As of Nov., the brand had sold a total of 178,172 vehicles this year.

Hongqi claimed on December 20 it had output over 200,000 new vehicles, achieving its annual production target 11 days ahead of schedule.

The announcement made Hongqi the first Chinses domestic upscale auto brand to accomplish this milestone.

Just five days later, the premium carmaker saw its year-to-date sales hit the 200,000-unit sales goal ahead of plan, doubling that of the year-ago period.

There is a viewpoint saying the sales hike is in large connection with the governmental procurement, and the demands of mobility service and car rental business.

Hongqi's Jan.-Oct. sales soared 103% over the previous year to 153,000 units. Of those, 95.7% of sales were contributed by private shopping demands, and 0.9% and 3.4% demands were from mobility service business and governmental purchase, according to Chen Xu, general manager of FAW Hongqi Sales Co.,Ltd.

FAW Group’s sales expected to rise 7.3% year on year in 2020

Tayron; photo credit: FAW-Volkswagen

With respect to joint ventures, FAW-Volkswagen and FAW-Toyota sold 236,814 (+5% YoY) and 80,047 (+8.6% YoY) in November, which made their Jan.-Nov. sales volumes amounted to 1,887,748 and 708,057 units respectively. FAW-Mazda had a sales volume of 67,071 units for the first eleven months, of which 6,709 units were sold in November.

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