Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Company

China's leading automaker FAW sets sales target of over 4 mln cars in 2022

January 21, 2022


Abstract : China FAW Group Co., Ltd., a leading automobile maker in the country, plans to sell around 4.1 million vehicles in 2022, growing at an annual rate of 17.1 percent, the company said Friday.

Workers work at the general assembly line of truck maker FAW Jiefang in Changchun, northeast China's Jilin Province, July 7, 2021. (Xinhua/Zhang Nan)

CHANGCHUN, Jan. 21 (Xinhua) -- China FAW Group Co., Ltd., a leading automobile maker in the country, plans to sell around 4.1 million vehicles in 2022, growing at an annual rate of 17.1 percent, the company said Friday.

The company's operating revenue is expected to reach 770 billion yuan (about 121 billion U.S. dollars) this year, with annual growth of 8.9 percent.

In 2022, the automaker plans to channel between 3 and 3.5 percent of its operating revenue to research and development expenditure.

Last year, FAW Group sold a total of 3.5 million vehicles. Sales of its leading sedan brand Hongqi came in at 300,000 in the period, an increase of 50.1 percent year on year. Its truck subsidiary FAW Jiefang sold a total of 440,000 vehicles.

Chinese auto sales are likely to rise 5 percent year on year in 2022, with total sales reaching 27.5 million units, the China Association of Automobile Manufacturers (CAAM) said.

While the impact of epidemic prevention and control measures on the market will gradually weaken, China's auto market will maintain growth in 2022 driven by huge demand potential, the gradual easing of chip shortages, and the strong demand for new energy vehicles, Fu Bingfeng, CAAM Executive Vice-President, told a press conference.

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

Scan the QR code and push it to your mobile phone

Keyword: China FAW Automobile

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial