China's leading automaker FAW posts robust sales growth

CHANGCHUN - China's leading automaker FAW Group Corporation sold 420,458 vehicles in January, up 18.9 percent year-on-year, the company said on Sunday.

Its own-brand sedan Hongqi sold 32,526 vehicles last month, soaring 157.5 percent year-on-year.

The company's joint ventures FAW-Volkswagen and FAW-Toyota also reported robust growth in both production and sales.

Meanwhile, more than 79,000 units of Jiefang trucks were sold, a rise of about 27 percent year-on-year.

FAW sold 3.7 million vehicles in 2020, up 7.1 percent from 2019. It plans to sell more than 6 million vehicles in 2025, growing at an average annual rate of close to 8 percent.

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