Chinese manufacturer FAW’s premium car brand Hongqi sold 25,000 units in November, up by 100pc from 12,500 units in Nov 2019, according to local media reports citing official data.
In the first ten months of the year (Jan-Nov, 2020), the company’s vehicle sales more than doubled to 178,100 units, compared to 88,020 units in the prior-year period.
The increase in sales has been in line with the sales blueprint given by the company for the next ten years in January this year.
As per the plan, the company aims to sell 200,000 units in 2020, 500,000 units in 2022, 700,000-800,000 units in 2025, and 1mn units in 2030.
To support the plan, the company is aiming to design new models, taking the total to 30 by the end of 2030.