FAW Group sales up 74% in first quarter

Beijing (Gasgoo)- China FAW Group produced 921,445 vehicles in the first quarter of this year, jumping 65.4% year on year while sales of last quarter totaled 1,059,148 units, representing a year-on-year growth of 74.3%, the group said.

Both Hongqi and Jiefang brands achieved outstanding sales growth in the first quarter of this year when compared with the same period of last year. On the last day of the first quarter, Hongqi, the premium car brand of FAW Group, announced that its quarterly sales surpassed 70,000 units, representing a year-on-year hike of 180%. The premium brand’s output in the first quarter increased by 190.6% to 62,839 units.

Photo credit: FAW Group

During the same period, sales of Jiefang surged 76.8% to 191,060 units and production grew 59.1% to 139,840 units. And Besturn sold 16,641 vehicles in the first quarter while the brand produced 12,041 vehicles.

Tayron; photo credit: FAW VW

FAW VW, the joint venture between the group and Volkswagen Group, saw a year-on-year sales increase of 72.4% with 550,869 vehicles sold. FAW Toyota and FAW Mazda sold 217,102 vehicles and 8,448 vehicles respectively last quarter. Total sales of the above three joint ventures accounted for 73.3% of the group’s overall sales.