Beijing, February 06, 2024, The Europe Today: China’s prominent automaker, FAW Group Co., Ltd., has reported a remarkable surge in vehicle sales for the month of January, setting a robust foundation for the company in 2024. According to the latest figures released by the carmaker, FAW Group’s auto sales exceeded 296,800 units, reflecting an impressive year-on-year growth of 54.2 percent.
The renowned FAW Group car brand, Hongqi, played a pivotal role in this surge, contributing 40,300 units to the total sales. This marks an extraordinary year-on-year increase of 82.9 percent for Hongqi. Additionally, FAW-Volkswagen, FAW’s passenger car joint venture with the esteemed German carmaker Volkswagen, demonstrated strong performance by selling 168,000 cars, reflecting a substantial 46.7 percent increase compared to the same period last year.
In an encouraging development, FAW Group’s overseas sales also witnessed a significant upswing, reaching 11,529 vehicles and posting remarkable growth of 186 percent year on year.
The FAW Group, a state-owned entity headquartered in Changchun, the capital of northeast China’s Jilin Province, has set ambitious targets for the year 2024. The company aims to achieve a sales target of 3.47 million units and a sales revenue target of 636 billion yuan (approximately 89.5 billion U.S. dollars).
With a legacy spanning over six decades, FAW Group has consistently demonstrated its prowess in the automotive industry, having produced and sold more than 54 million vehicles. The latest sales figures underscore the company’s resilience and position it as a key player in the competitive global automotive market.
As FAW Group continues to navigate the evolving landscape of the automotive industry, these robust January sales figures reinforce the company’s commitment to innovation, quality, and sustainable growth. Industry analysts are keenly observing FAW Group’s trajectory, anticipating further milestones as the year unfolds.