On January 19, FAW Group held the New Year's Annual Meeting, at which 2021 was summarized and a new brand identity was officially released, as well as the overall business goals for 2022.
In 2021, FAW Group sold a total of 3.5 million vehicles, down 5.56% from 3.706 million units last year.
FAW's overall sales decline was mainly affected by FAW-Volkswagen sales. It is understood that FAW-Volkswagen completed a total of 1.858 million vehicle sales in 2021, down 14.06% year-on-year, but it still ranked first in the sales of domestic car companies. In this regard, FAW Group said that in 2021, when the chip supply situation is severe, the Chinese side and the German side will grab resources, ensure production, and coordinate chip supply in multiple ways, which will minimize the impact.
Unexpectedly, in the case of Toyota's large-scale production cuts, FAW-Toyota sold 860,000 vehicles in 2021, achieving a 6.8% year-on-year increase in sales for the whole year.
At the level of independent brands, Hongqi brand has gradually become a representative of FAW in the field of independent brands. The data shows that in 2021, the annual sales of the Hongqi brand exceeded 300,000 vehicles, an increase of 50.1% year-on-year, ranking first in the second camp of domestic high-end automobile brands. So far, from the annual sales of more than 4,700 vehicles four years ago to today's annual sales of 300,000 vehicles, Hongqi has achieved 63 times the growth.
Jiefang brand achieved sales of 440,000 vehicles in 2021, compared with 474,000 units in 2020, a decrease of 7.17%, in the commercial vehicle market, won the global "five consecutive championships" in medium and heavy-duty truck sales, and the "six consecutive championships" in heavy-duty truck sales.
Overall, although the overall sales volume has declined slightly, thanks to the sales growth of Hongqi's high-end models, FAW's operating income in 2021 reached 707 billion yuan, an increase of 1.4% year-on-year. It is reported that this is the first time that FAW Group's revenue has exceeded the 700 billion mark since the establishment of the plant in 1953.
Based on 2021, FAW also has more expectations for 2022.
It is understood that FAW plans to sell 4.1 million vehicles in 2022, an increase of 17.1% year-on-year; operating income of 770 billion yuan, an increase of 8.9% year-on-year; market share of 15%; R & D investment intensity of more than 3%, and strive to reach 3.5%, of which the R & D expenditure of independent brands reached about 8%.
Qiu Xiandong, director, general manager and deputy secretary of the party committee of China FAW, said at the meeting, "FAW will use the thinking of 'can be completely torn down and restarted, must be built to zero innovation', and create a new generation of automotive product platform and technology platform of 'integration, less pieces, and softwareization', and strive to become the source of innovation in the automotive industry, and achieve the goal of technological innovation, product innovation achievements and capabilities industry leadership." ”
In fact, in the past year, FAW invested a total of 21.42 billion yuan in research and development, an increase of 3.9% year-on-year, accounting for 3% of revenue, and the main line of comprehensive innovation drive was more prominent, and the development potential was greatly enhanced. The further increase in research and development has also brought more possibilities to FAW.
At the meeting, FAW also released a new brand logo, the new logo removed the blue background and outer ring, the overall more concise, blue lines outline the center of the number "1" and the wings representing "auto". In addition, the wings have also changed to two letters "E", representing Environment and Enjoy respectively, conveying its vision to the outside world to build a world-class, environmentally friendly (green and low-carbon), consumer-loved mobility service company.