Recently, FAW Hongqi released the latest data showing that the cumulative sales volume in 2021 exceeded 300,000 vehicles, an increase of more than 50% year-on-year. It should be noted that the data released by FAW Hongqi is wholesale sales, that is, the data of the main engine factory supplying to dealers in batches, and there is a certain gap between the sales volume that is finally reflected in the market.
It is understood that the sales target of FAW Hongqi in 2021 is 400,000 vehicles, and it is clear that Fawong did not complete the target as scheduled.
Hongqi is an independent high-end brand of FAW Group. In the traditional luxury brand market, the markets of Lexus and Cadillac continue to be hit by red flags.
Taking November sales as an example, the insurance number on the red flag is 30662 vehicles, while Lexus and Cadillac are 12366 vehicles and 15504 vehicles respectively, these two brands due to the shortage of parts in the domestic market performance is not good, especially Lexus imported into the country, overseas chips are more shortage, coupled with the resurgence of the epidemic, production and sales are affected.
Of course, although Hongqi is regarded as an independent high-end brand, its volume of models is indeed priced in the range of 183,800-249,800 yuan of Hongqi HS5 and 14.58-190,800 yuan of Hongqi H5, which is also the reason why many consumers do not recognize Hongqi's high-end brand image.
Abandoning the brand positioning of high-end luxury, then as a traditional independent brand, the development of Hongqi in recent years is indeed worthy of recognition. Since the release of the new brand strategy in 2018, sales of 25,000 units in the year have increased to 100016 units in 2019, more than 200,000 units in 2020, and 300,000 units in 2021. Of course, the above data are all officially announced wholesale sales, but it is undeniable that the development of the Hongqi brand is indeed rapid.
At present, FAW Hongqi has formed a car family composed of E-QM5, H5, H7 and H9, and an SUV family composed of HS5, HS7, E-HS3 and E-HS9, and its product system covers the high-end market of 150,000-700,000 yuan, covering fuel and pure electricity. With the improvement of the product line, FAW Hongqi will also go further towards its established sales target.
From the perspective of FAW Hongqi's product camp, the highest sales volume is currently Hongqi HS5, with cumulative sales of 116479 vehicles from January to November 2021, followed by Hongqi H5 and Hongqi H9, with cumulative sales of 71855 vehicles and 36844 vehicles, respectively. Among them, Hongqi H9 is the fuel vehicle with the highest brand price, which bears the high-end luxury image of the Hongqi brand to a certain extent.
According to the previously announced new car planning, in the future, FAW Hongqi will form four major product camps of H series (mainstream car), L series (supreme car), Q series (commercial car), S series (supercar), and all the products that have been listed so far belong to the H series, which is also the main product series promoted by the Hongqi brand.
Previously, a large SUV called LS7 has appeared in the ministry of industry and information technology declaration information, which is the first model of the Hongqi L series and the latest flagship model of Hongqi, the new car will be equipped with a 4.0T engine, which is expected to be listed in the second half of this year. It is understood that the L series belongs to the flagship products of Hongqi, and will launch a number of models including L5, L3, L1, LS7 and LS3 in the future, of which "L" is a car product and "LS" is an SUV product.
In addition, recently the media also exposed a set of Hongqi B-MPV (code name C095) road test spy photos, or will become the first MPV model under the Hongqi brand, or the first model of the Hongqi Q series, and the price should not be very low.
Judging from the exposed spy photos, the appearance of the Hongqi B-MPV continues the iconic design language of the Hongqi family, including the straight waterfall grille and through-taillights, the power is equipped with a 2.0T engine, and the transmission system matches the 8AT gearbox. According to the previous plan, The annual production capacity of Hongqi B-MPV is 20,000 units, and mass production will be carried out at the end of June this year, and it is expected to be officially launched in the second half of the year as soon as possible.
It is worth mentioning that Hongqi is not only sold in China, but also exported to a number of overseas markets. It is understood that at present, Hongqi brand has successfully laid out four markets in Southeast Asia, including Cambodia, Myanmar, Vietnam and Laos, and released listed products in Norway, the United Arab Emirates, Kuwait, Saudi Arabia, Japan, South Korea and other overseas markets. Not long ago, FAW Hongqi opened its first experience store in Japan, located in The Nagasu District of Osaka City.
Earlier, Xu Liuping, chairman of FAW Group, revealed the next sales target of the Hongqi brand: 500,000-600,000 vehicles in 2022, 700,000-800,000 vehicles in 2025, and the target for 2030 is still being formulated (the original target is 80-1 million vehicles). Now that sales in 2021 have not yet been completed, will the official adjust its set target?
In September this year, Wang Guoqiang, deputy secretary of the party committee of China FAW Group Co., Ltd., said that all hongqi brand products will be fully electrified by 2030, and 28 new products will be launched by 2025, with overall sales of more than 1 million vehicles.
Among them, 15 new energy vehicle products will be launched, and the sales of new energy vehicles will account for 40% of the overall sales of the Hongqi brand, which will exceed 400,000 vehicles. According to the current performance of Hongqi in the new energy market, Hongqi Automobile only has three models of E-HS3, E-HS9 and E-QM5, and sales are relatively sluggish, and it seems that it is necessary to develop more cost-effective new energy vehicle products to achieve the goal of annual sales of 400,000 vehicles.