FAW in 2024: Breaking records and expanding globally

In 2024, China FAW Group Co, a leading automaker based in Changchun, Jilin province, achieved remarkable growth, selling more than 3.2 million vehicles and generating revenues of 555.01 billion yuan ($76.04 billion). The strong performance has allowed it to maintain its leading position in the industry, with significant growth across its core segments.

The company saw substantial increases in sales across its self-owned brands, intelligent connected new energy vehicles (NEVs), and overseas exports, outperforming industry averages by 10.2 percent, 5.5 percent, and 16.9 percent, respectively. Self-owned brands were a key driver, with sales reaching 819,000 units, up by 14.7 percent year-on-year.

Hongqi, one of China FAW's flagship brands, achieved a record-breaking 411,800 units sold in 2024, marking a 17.4-percent year-on-year increase and marking the 7th consecutive year of positive growth. Particularly impressive were Hongqi's NEV sales, which soared by 43.7 percent, totaling 115,000 units.

Hongqi has become a highly-popular brand, providing vehicles to 73 foreign embassies and international organizations and participating in major international events such as the Forum on China-Africa Cooperation and APEC Summit.

FAW's overseas sales also continued to thrive, with exports reaching 125,000 units in 2024, up 36.3 percent year-on-year. China FAW's international footprint is rapidly expanding, with the company now doing business in 97 countries and regions and operating over 170 primary overseas dealerships and 24 overseas assembly plants in countries including South Africa, Tanzania, and Mexico.