Hongqi, the luxury brand under FAW Group, produced 24,780 vehicles last month, up 132.4% year on year. It posted a solid year-on year sales growth of 86% in September, with 21,518 vehicles sold, a new high for the month. In the first three quarters, the brand’s sales exceeded 130,000 vehicles, representing a jump of 104.4%.
(Photo credit: FAW Group)
Under the luxury brand’s annual plan, it aims to sell 200,000 vehicles in 2020. By the end of September, Hongqi has completed 65% of the goal. To achieve the brand’s annual goal, the average monthly sales for the last three months should be about 24,000, more than the monthly sales of September, known as the selling season of the industry. We learned that the brand received 10,500 vehicle orders during this year’s National Day holiday.
At the Auto China 2020, Hongqi brand launched the presale of the E-HS9, a battery electric SUV model, with a price range of RMB 550,000 to RMB 750,000. Besides, the brand also unveiled the H9+ and the HS7+ during the show.
Faw Jiefang, the group's truck subsidiary, built more than 46,000 vehicles in September with a year-on-year growth rate of 70% and sold 43,000 vehicles with a year-on-year growth rate of 60%.
As to the joint ventures of the group, the combined output in September reached 294,598, increasing 39.7% compared with the same month of last year. The monthly sales of FAW VW saw a mild increase of 3.9% to 224,411, far more than those of FAW Toyota (with 84,834 vehicles sold, up 62.6%) and FAW-Mazda (with 7,057 vehicles sold).
