FAW Group sees growing revenue in 2019

Source: Xinhua| 2020-01-07 19:09:31|Editor: Xiang Bo
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CHANGCHUN, Jan. 7 (Xinhua) -- China's leading automaker FAW Group saw its total revenue reach 620 billion yuan (about 89.2 billion U.S. dollars) in 2019, up 4.4 percent, the automaker said Tuesday.

FAW sold over 3.46 million units of vehicles last year, up 1.3 percent.

FAW's iconic sedan brand Hongqi sold over 100,000 units in 2019. The brand has six models currently on sale, including an electric battery vehicle and high-end customized sedan.

FAW-Volkswagen Automobile Co., Ltd., a passenger car joint venture between FAW and Volkswagen AG, said its Audi brand set a new sales record in China in 2019. A total of 688,888 Audi vehicles were sold in China last year, up 4.2 percent.

In addition, FAW had stepped up efforts to reinforce innovation, research and development and made breakthroughs in fields including new energy and key technologies. FAW said it had applied for 2,927 patents last year.

Founded in 1953 in the northeastern city of Changchun, FAW was the first automaker in China to own brands including Hongqi, Jiefang and Besturn. It also has joint ventures with carmakers such as Volkswagen, Mazda and Toyota.