Companies News

China's iconic sedan brand Hongqi posts strong sales

Sales of Hongqi, a car brand under China's leading automaker FAW Group Co., Ltd., have more than doubled in the first 11 months of the year to 178,100 units, the company said Tuesday.

In November alone, the automaker sold 25,000 Hongqi cars, an increase of 100 percent year on year, indicating a rising demand for the vehicles.

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.

In recent years, FAW Group has sped up the expansion of its product portfolio. The new Hongqi SUV E-HS9, which targets the high-end auto market, is scheduled to hit the market this month.

Hongqi's sales exceeded 100,000 last year. The company has set sales targets of 200,000 cars this year and 600,000 by 2025.

Founded in 1953 in the northeastern city of Changchun, capital of Jilin Province, FAW Group is regarded as the cradle of China's auto industry. 

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