FAW Group boasts 54.2% YoY surge in Jan. auto sales

Beijing (Gasgoo)- In the first month of 2024, Chinese automaker FAW Group witnessed all-around growth in sales across its entire sub-brand lineup compared to a year ago.

In January 2024, FAW Group achieved overall vehicle sales of over 296,800 units, representing a 54.2% spike year-on-year. 

The group’s signature passenger car brand, Hongqi, realized an 82.9% year-on-year soar in monthly sales, which stood at 40,300 units in January. Among which, the combined sales of the all-new Hongqi H5 and the new HS5 models leapt 178% from the previous year.

With precise resource adjustments, multi-channel efforts, and comprehensive marketing innovations, Bestune, FAW Group’s another wholly-owned passenger vehicle brand, maintained its steady growing momentum in sales. In the past month, Bestune saw both its wholesale and terminal retail sales exceed 10,000 units, which indicated a respective 86% and 121% hike year-over-year. Bestune’s mainstay model, the B70, posted a monthly retail volume of over 5,000 units.

In terms of FAW Group’s joint venture passenger car brands, FAW-Volkswagen has been actively accelerating the implementation of electric and hybrid electric technologies onto its products. Meanwhile, FAW Toyota adheres to its all-new approach with different marketing, channel distribution, strategy, model, and new energy, aiming to further boost its sales in China.