FAW Group Reports Strong Sales Growth in January-February, with NEV Sales Surging 193%
FAW Group sold over 460,000 vehicles in the first two months of the year, led by a 193% surge in new energy vehicle sales from its self-owned brands.
over 460,000
193%
235,000
What Happened
FAW Group sold over 460,000 vehicles in January and February, with self-owned brands contributing more than 140,000 vehicles, up 11.3% year-over-year. New energy vehicle sales under self-owned brands soared 193%, five times the industry average. Joint ventures FAW-Volkswagen and FAW Toyota also performed well, maintaining leading positions among their peers.
- Hongqi: wholesale sales of 70,434 units, up 7.9%; NEV sales up 56.9%.
- Bestune: 24,000 vehicles sold, up 46% year-over-year, outperforming the industry.
- FAW-Volkswagen: wholesale sales of 226,000 and retail sales of 235,000, both exceeding targets.
- FAW Toyota: 93,000 vehicles sold, up 21% year-over-year, with cost reduction targets exceeded.
Why this matters
FAW, China's oldest and largest automaker, shows a strong start to 2025 with robust sales across its brands, especially in the rapidly growing new energy vehicle segment, signaling continued momentum in the country's auto market.
Terms in This Story
- self-owned brands
- Brands fully owned and operated by the parent company, without a joint venture partner.
- new energy vehicle (NEV)
- A broad category including battery electric, plug-in hybrid, and hydrogen fuel cell vehicles.
- joint venture
- A business arrangement where two or more parties share ownership and operation of a company or project.
- wholesale sales
- Sales from the manufacturer to dealers, as opposed to retail sales to end customers.
Summarised from the linked release; details can be imperfect — always verify against the original source.