BUSINESS China iconic sedan brand Hongqi sees 223 pct sales growth from Jan-Sept

BUSINESS

China iconic sedan brand Hongqi sees 223 pct sales growth from Jan-Sept

Xinhua

20:34, October 10, 2019

CHANGCHUN, Oct. 10 (Xinhua) -- Hongqi, a brand under China's leading automaker FAW Group, sold 63,640 cars from January to September, posting a 223-percent annual increase, FAW Group said Thursday.

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(File Photo: VCG)

In September alone, it sold 11,570 units, up 188 percent year on year and 15.5 percent month on month.

The carmaker earlier set its annual sales target at 100,000 units in 2019.

Hongqi has rolled out more models to boost sales. It is now selling six models including two sedans, two SUVs, an EV and a customized limousine.

The automaker showcased its first self-designed and self-made supercar S9 and all-electric SUV concept E115 at the International Motor Show in Frankfurt, Germany, in September.

The S9 has a top speed of 400 kph and can accelerate from 0 to 100 kph in 1.9 seconds, while the E115 can run 600 km on a single charge.

Hongqi, meaning "red flag," is China's iconic sedan brand. The brand was established in 1958 and has been used as the vehicle for parades at national celebrations.

To revive the brand, it plans to launch up to 17 new models by 2025, including new energy models and SUVs, to win the market.

Established in 1953 in the northeastern city of Changchun, FAW was the first automaker in China. Its other brands include Jiefang and Besturn. It also has joint ventures with carmakers such as Volkswagen and Toyota.

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