Chinese automaker FAW reports solid start to 2021
February 9, 2021
Major Chinese automaker, FAW Group Corporation, headquartered in Changchun, Jilin Province, has seen a solid start to 2021, with January sales of 420,458 vehicles, up 18.9% from 2020 sales. Production output for the month was reported to be up 21.6%, at 309,077 units.
FAW, a manufacturer of passenger cars, trucks and buses, was established in 1953 and is China’s oldest and largest automotive group.
FAW’s own-brand luxury Hongqi marque sold a record 32,526 vehicles in the same month, a growth of 157.5%. Meanwhile, FAW Jiefang trucks moved 79,000 units, a rise of about 27%.
The company’s joint ventures, FAW-Volkswagen produced 150,483 units and sold 215,286 units in January, up 7.3% and 16.6% year on year respectively. FAW-Toyota saw its January sales climb 8.9% to 83,062 units. FAW Mazda’s January production and sales volumes reached 8,352 units and 1,818 units respectively.
In total, FAW reported the sale of 3.7 million vehicles throughout 2020, an increase of 7.1% from 2019. It hopes, with an average annual rate of growth of around 8%, to be selling more than 6 million vehicles per year by 2025.
