FAW self-owned brands 2024 sales rise 14.7% to 819,000 vehicles
FAW Group's self-owned brands Hongqi, Jiefang and Bestune sold 819,000 vehicles in 2024, a 14.7% year-on-year increase, marking continued market share growth.
- 819,000 vehicles (+14.7%)
- 410,000 units (+17.4%)
- 26.6% (first in China)
What Happened
In 2024, FAW Group's self-owned brands achieved combined sales of 819,000 vehicles, up 14.7% year-on-year. The premium passenger brand Hongqi sold over 410,000 units, a 17.4% increase and its seventh consecutive year of growth. Hongqi also unveiled new energy vehicles built on the Tiangong all-electric and Jiuzhang intelligent platforms.
The commercial truck brand Jiefang delivered more than 250,000 vehicles, up 5.1%, with its medium and heavy-duty trucks claiming a 26.6% market share, tops in China. The passenger brand Bestune sold over 151,000 units, a 25% increase and a decade-high record. Bestune's new A00-segment electric vehicle, the Xiaoma, entered mass production and achieved monthly sales above 10,000 units.
Why this matters
FAW is China's oldest and largest automaker, and the strong sales of its own brands highlight its growing competitiveness in both passenger and commercial vehicle segments.
Terms in This Story
- NEV
- New Energy Vehicle, a term used in China for electric and plug-in hybrid vehicles.
- PHEV
- Plug-in Hybrid Electric Vehicle, which can be charged from an external source and runs on both electric and gasoline power.
- A00-segment
- The smallest size class of passenger cars in China, typically micro or mini cars.
Summarised from the linked release; details can be imperfect — always verify against the original source.