Chinese carmaker FAW Group reports robust sales in January

CHANGCHUN -- China's leading automaker FAW Group Co Ltd reported surging vehicle sales in January, getting the company off to a good start for 2024.

FAW Group's auto sales exceeded 296,800 units last month, up 54.2 percent year-on-year, according to the carmaker.

Of its total sales, FAW Group car brand Hongqi contributed 40,300 units alone, a year-on-year increase of 82.9 percent. FAW-Volkswagen, FAW's passenger car joint venture with German carmaker Volkswagen, sold 168,000 cars, up 46.7 percent.

FAW Group also sold 11,529 vehicles overseas, posting surging growth of 186 percent year-on-year.

The group said it has set a sales target of 3.47 million units and a sales revenue target of 636 billion yuan ($89.5 billion) for 2024.

FAW Group is State-owned and headquartered in Changchun, the capital of Northeast China's Jilin province. It has produced and sold more than 54 million vehicles over the course of more than six decades.