China's leading automaker posts strong sales growth

CHANGCHUN -- First Automotive Works (FAW) Group Co Ltd, China's leading automaker, sold 322,471 vehicles in July, up 23.2 percent year on year, according to corporate sources.

Its iconic sedan brand Hongqi sold 17,508 vehicles last month, an increase of 98.8 percent year on year.

The group's joint ventures FAW-Volkswagen and FAW Toyota also reported a growth of 6.9 percent and 40 percent in sales in July, respectively.

Despite the COVID-19 epidemic, FAW Group's major brands have been expanding online and offline sales channels and launching new products while stabilizing production.

Hongqi has rolled out two new models -- Hongqi H9 and Hongqi E-HS9 -- this year, aiming at the high-end auto market. The brand fulfilled its sales target of 100,000 cars in 2019 and has doubled the target for 2020.

With a younger and more market-oriented design style, Hongqi plans to roll out 21 new models in five years, and eyes a sales target of 600,000 cars in 2025.

Founded in 1953 in the northeastern city of Changchun, capital of Jilin Province, FAW Group is seen as the cradle of China's auto industry. The group sold more than 1.63 million vehicles in the first half of 2020, up 2.3 percent year on year.