China's leading automaker FAW reports growth in sales

CHANGCHUN-- First Automotive Works (FAW) Group Co Ltd, China's leading automaker, sold more than 3.01 million vehicles in the first 10 months of this year, an increase of 7.8 percent year-on-year, the company said.

Its leading sedan brand Hongqi sold 153,109 vehicles in the period, an increase of 102.7 percent year-on-year. Nearly 439,000 units of Jiefang trucks were sold, which is a rise of about 44 percent year-on-year.

Hongqi's sales exceeded 100,000 vehicles last year. The company has set sales targets of 200,000 cars in 2020 and 600,000 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.