China FAW Unveils New Brand Logo 2022 Sales Target of 4.1 Million Faw-Hongqi to Increase by 50%

A few days ago, the annual press conference of China FAW and Hongqi brand was officially held, and a new brand logo was released. Qiu Xiandong, director and general manager of China FAW, said that a more scientific and technological sense and young logo can show the new corporate brand image of China FAW. At the same time, China FAW released a new brand slogan as "China FAW, Create a Leading Future".

He also revealed that in 2022, the overall sales target of China FAW will reach 4.1 million vehicles, an increase of 17.1% year-on-year, and the growth rate will exceed 3 times that of the industry. Operating income reached 770 billion yuan, an increase of 8.9% year-on-year. The market share should reach 15%.

To this end, Qiu Xiandong hopes that the two joint ventures and independent brands can continue to exert efforts. Faw-Volkswagen sales can return to 2 million units, while FAW Toyota will continue to grow at a high rate, with sales increasing from 860,000 units last year to 1 million units. In terms of independent brands, the sales target of the Hongqi brand in 2022 will reach 450,000-500,000 vehicles, an increase of more than 50% year-on-year; the Pentol brand has been adjusted and the product layout has been strengthened, with a target of 100,000 vehicles.

According to last year's data, China FAW sold 3.5 million vehicles in 2021, with a total operating income of 707 billion yuan, breaking through the sales mark of 700 billion yuan for the first time. Among them, FAW Hongqi achieved sales of 300,600 vehicles, an increase of 50% year-on-year, ranking first in the second camp of high-end brands, ranking first in the growth rate of high-end luxury brands, and Hongqi H's sales exceeded 4,000 vehicles in September.

At the same time, China FAW will invest 22.2 billion yuan in R&D in 2021, of which 10.2 billion yuan will be invested in the research and development of its own brand and 5.98 billion yuan for the Hongqi brand. Qiu Xiandong said that in 2022, China FAW's total R&D investment will reach 30 billion yuan, and R&D investment will strive to reach 3.5% of sales revenue, of which 8% will be invested in independent brands.

It is understood that the number and quality of faw's patents in 2021 continued to improve, and 4757 patents were applied for throughout the year, of which 2730 were invention patents, an increase of 35.6% and 55.4% year-on-year, respectively, and invention patents accounted for 57.4%.

In the forecast of the overall industry, Qiu Xiandong believes that the global automotive industry will have a relatively large growth rate in 2022, and it is expected to reach 4%. Among them, the Chinese market is expected to increase by 5% to 27.5 million vehicles. Among them, the passenger car field will increase by 7-8%, and the new energy vehicle will exceed 4 million.

(Text/Tencent Auto Zhang Cuicui)