FAW Overseas Sales Surge 71% to 86,000 Vehicles in Jan-Aug 2024
FAW Group reported record overseas sales of 86,000 vehicles in the first eight months of 2024, a 71% jump year-over-year, driven by its Hongqi, Bestune, and Jiefang brands.
- 86,000 vehicles
- 71%
- 87
What Happened
FAW Group's three homegrown brands—Hongqi, Bestune, and Jiefang—all contributed to the overseas sales surge. Hongqi, the luxury brand, expanded into Europe with vehicle exports via China-Europe freight trains and showcased models at the Goodwood Festival of Speed. Bestune entered the Mexican market and saw NEV sales breakthroughs in the Middle East, Latin America, and Eastern Europe. Jiefang, the commercial vehicle segment, signed a deal to export 1,200 heavy-duty trucks to an Indonesian logistics firm.
Key milestones include Hongqi becoming the official partner of VOGUE magazine, delivering E-HS9 SUVs to Frankfurt Airport, and providing mobility services for the Paris 2024 Olympic and Chinese Olympic Delegation. During the Forum on China-Africa Cooperation (FOCAC) Beijing Summit, 620 Hongqi vehicles served the diplomatic event. FAW Jiefang also established a wholly-owned subsidiary to integrate overseas commercial vehicle operations.
86,000vehicles
71% increase year-over-year
87
with over 160 first-level dealers
Why this matters
The growth underscores FAW's expansion into new markets like Germany and France, as it aims to become a global player with over 160 dealers and 21 CKD bases worldwide.
Terms in This Story
- CKD production bases
- Completely Knocked Down kits, where vehicles are assembled locally from imported parts.
- NEV
- New Energy Vehicles, including battery electric, plug-in hybrid, and fuel cell vehicles.
Summarised from the linked release; details can be imperfect — always verify against the original source.