FAW's annual revenue exceeded 700 billion yuan for the first time In 2022, the sales growth rate will exceed the industry by 3 times

FAW recently announced its 2021 annual results: vehicle sales reached 3.5 million units, operating income of 707 billion yuan, profit of 48 billion yuan. Among them, the revenue is the first time since the establishment of FAW in 1953 that it exceeded 700 billion yuan, ranking second among the national manufacturing enterprises.

In terms of specific sales, the two joint ventures are still the most important sales pillars of FAW, of which FAW-Volkswagen sales were 1.858 million units; FAW Toyota's annual sales reached 860,000 units, an increase of 8% year-on-year, and cumulative sales exceeded 9 million units. At the same time, the rapid growth of independent brands has also brought a new development momentum to FAW, among which the jiefang brand sales reached 440,000 vehicles, achieving the global "five consecutive championships" of medium and heavy-duty truck sales, and the global "six consecutive championships" of heavy-duty truck sales; the cumulative sales of The Hongqi brand exceeded 300,000 vehicles, an increase of more than 50% year-on-year. At the R&D level, FAW's total R&D investment in 2021 was 21.42 billion yuan, an increase of 3.9% year-on-year, accounting for 3% of revenue.

In 2022, the growth rate will exceed the industry by 3 times

In 2022, FAW set a target of 4.1 million vehicles in vehicle sales, an increase of 17.1% year-on-year, and a growth rate of 3 times that of the industry. Of the 4.1 million vehicles target, FAW is more like a task breakdown for the group's various business segments. Among them, FAW-Volkswagen sales will return to 2 million vehicles, FAW Toyota sales target of 1 million vehicles, Hongqi to achieve more than 50% growth, annual sales of 450,000 vehicles, Pentol brand also to achieve 100,000 vehicles target.

In addition, China FAW has also set a number of other digital core indicators, such as operating income will reach 770 billion yuan, an increase of 8.9% year-on-year, and a market share of 15%. In addition, in terms of R&D investment, we will strive to reach 3.5% of revenue, of which independent brands account for 8%.

For the future development of the overall industry, QIU Xiandong, director, general manager and deputy secretary of the party committee of FAW, said that the global automotive industry will have a substantial growth in 2022, which is expected to reach 4%, and the Chinese market will also outperform the market, reaching an increase of 5%, that is, 27.5 million vehicles; of which the passenger car market will have an increase of 7% to 8%, and the sales of new energy vehicles will exceed 4 million.

At the annual press conference, FAW also released a new corporate logo, and the flat UI design is more concise. The "1" in the middle represents the "one" of "FAW", while the two wings of the eagle behind it are on the one hand transformed from the left and right parts of the "steam" of "FAW", and on the other hand, it is also embodied as two letters "E", representing Environment and Enjoy respectively.

Red Flag will develop in a benchmarking manner

For FAW, "better, faster and stronger establishment of national automobile brands such as Hongqi, Jiefang, and Benten" has become the overall outline of the group's brand building. Among them, FAW will take the development of "red flag" as the benchmark, take brand building as the command, take the user as the center, take the comprehensive innovation drive as the main line, fight the "four major battles", and conscientiously grasp the key work in nine aspects such as "strengthening strategic management".

FAW mentioned at the annual press conference that "compared with its own development vision, the Hongqi brand still has a lot of room for improvement." Although Hongqi did not complete its annual sales target of 400,000 vehicles in 2021, the achievement of 300,000 vehicles has allowed Hongqi to win the crown in the annual sales ranking of second-tier high-end brands. According to the hongqi sales target announced by China FAW on its official website, "in 2022, it will resolutely surpass 400,000 vehicles; in 2025, strive to exceed 600,000 vehicles; and in 2030, strive to hit 800,000 to 1 million vehicles." ”

At the Shanghai Auto Show last April, Hongqi released the E-QM5; in September, Hongqi HS5, HS7, H5 were successively upgraded; during last year's Guangzhou Auto Show, Hongqi H9 and E-HS9 upgraded versions were unveiled. Representative models Hongqi H9 and Hongqi E-HS9, the annual sales exceeded 40,000 and 5,400 vehicles respectively. As of December 24, the number of owners of the new Hongqi brand has exceeded 600,000.

Responsible Editor: Li Yan'an Editor-in-Chief: Yu Jianping