BUSINESS China's leading automaker FAW reports growth in sales

BUSINESS

China's leading automaker FAW reports growth in sales

Xinhua

17:18, October 12, 2020

An employee checks a Hongqi sedan at an assembly workshop of China FAW Group in Changchun, Northeast China's Jilin province, on June 19, 2019. (Photo: Xinhua)

CHANGCHUN - China's leading automaker First Automotive Works (FAW) Group Co Ltd sold 2,656,744 vehicles in the first three quarters of the year, up 8 percent year-on-year, according to corporate sources.

Sales of FAW's iconic sedan brand Hongqi surged by 104.4 percent to 130,091 cars in the first nine months, while its truck brand Jiefang sold over 400,000 vehicles during the period, an increase of 46 percent year-on-year.

The group company's joint ventures FAW-Volkswagen and FAW Toyota also reported healthy increases in both production and sales, said the sources.

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.

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