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China’s iconic sedan brand Hongqi posts soaring sales in Q1

Abstract : Hongqi, a car brand under China's leading automaker FAW Group Co., Ltd., posted rising sales in the first quarter of the year (Q1).

CHANGCHUN, April 1 (Xinhua) — Hongqi, a car brand under China’s
leading automaker FAW Group Co., Ltd., posted rising sales in the first
quarter of the year (Q1).

The brand sold more than 70,000 vehicles in the period, up 180 percent year on year, according to FAW Group.

The production and marketing of its new energy vehicles will be prioritized this year, sources with the group said.

Meanwhile, the group plans to double its sales of Hongqi-brand vehicles to 400,000 units from last year.

Hongqi, meaning “red flag,” is China’s iconic sedan brand.
Established in 1958, the brand has been used as the vehicle for parades
for national celebrations.

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. Enditem

About Xinhua Silk Road

Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includes BRI Policy,BRI Trade,BRI Investment,Belt and Road weekly,Know Belt and Road,and the integrated information services for the Belt and Road Initiative (BRI).

Source: China’s iconic sedan brand Hongqi posts soaring sales in Q1

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