“when the first ray of sunshine of the New year shines on FAW, we bid farewell to 2024, which is full of challenges, hard work and harvest.
with mission and dream, we will move towards 2025 with more opportunities, more struggle, and more success.
” The above paragraph is not from the author but directly from the “China FAW 2025 New year dedication” pushed by the official Wechat account of FAW Group yesterday.
The full text is jointly signed by Qiu Xiandong, chairman and secretary of the party committee of FAW, and Liu Yigong, director, general manager and deputy secretary of the party committee of the group.
Transferred from the official account of Wechat, China FAW, however, the New year’s dedication usually summarizes the achievements of last year and places various expectations for the new year.
However, throughout the dedication at the beginning of 2025, it reveals a sense of urgency from beginning to end.
After affirming last year’s efforts, “We bid farewell to 2024 full of challenges, hard work, and harvest”, we also stressed the need to “move forward with mission and dream into 2025 with more opportunities, more struggle, and more success.
” It is gratified that while the group has experienced a major reshuffle in the industry in 2024, it has still been able to “achieve vehicle sales of 3.
2 million vehicles, operating income of more than 550 billion yuan, stable level of efficiency in the forefront of the industry, and overall sound production and operation.
” However, they are worried about the “severe challenges such as the acceleration of industrial change and the intensification of the volume of the industry”.
Looking at the ups and downs experienced by FAW in 2024 and looking forward to the future of the eldest son of China’s automobile industry in the new year it will be a very interesting and in-depth topic.
However, for the “one-sentence comment” column of the commune, it is still necessary to focus on the market and sales.
So for the time being let’s take an inventory of the vehicle sales of FAW Group and its subsidiary brands and division last year.
Throughout 2024 FAW Group achieved vehicle sales of more than 3.
2 million vehicles with a total revenue of more than 550 billion yuan.
In terms of sales data alone, it ranks third behind BYD (4.
272 million vehicles) and SAIC (4.
639 million vehicles terminal), ranking third in domestic vehicle group sales.
Looking at the trend of FAW sales in the past six years, from 3.
464 million in 2019 to 3.
706 million in 2020, after 2021 (3.
5 million), 2022 (3.
2 million) and 3.
44 million in 2023, the whole process can be described as ups and downs, but all remain above the baseline of 3.
2 million.
Although it was affected by the major black swan incident of the COVID-19 epidemic in 2020, it was affected by a series of events such as the rapid control of the epidemic in China at that time, follow-up policy support and a rebound in market demand.
Since then, from new energy to intelligence, the technological revolution has pushed the industry to change, which has launched a continuous impact on traditional car companies.
In 2023 thanks to the recovery of market demand the launch of new products and the adjustment of corporate marketing strategies the group’s sales rebounded for a time.
However, in 2024, due to increased market competition, changes in consumer attitudes and the macroeconomic environment and other comprehensive factors, the group’s vehicle sales again showed a 7% year-on-year decline.
In terms of specific sales volume each brand under the group presents a completely different situation.
The first is the independent brand– FAW Red Flag’s annual sales reached 412000, an increase of 17.
4% over the same period last year, which is also the seventh consecutive year of positive sales growth of the Red Flag brand.
Among them, it is particularly worth mentioning that the number of new energy models increased by 43.
7% year-on-year, reaching 115000 units.
HS7 PHEV and HS3 PHEV are the most important core plug-in products of Red Flag brand at the present stage.
As we all know, 2024 is the revival of the hybrid market, and after pure electricity, it has become the spearhead of new energy penetration.
And FAW Red Flag also made up the product line in time, coming up with two hybrid SUV products, HS3 PHEV and HS7 PHEV, and MPV product Red Flag HQ9 PHEV.
In mid-November last year, the launch of Tiangong Pure Electric platform and Jiuzhang Intelligent platform, as well as the unveiling of Tiangong 08 model during the Guangzhou Auto Show, also laid the foundation for Hongqi brand to continue to develop this year.
As the most symbolic passenger car brand in China, Red Flag has always enjoyed the treatment of the eldest son in FAW Group and even in the official system.
The author and even the vast majority of readers must have full confidence in its future.
What about the situation of FAW Pentium compared with Red Flag? Although the Pentium brand has achieved the status of an independent brand in the group since the FAW Pentium business headquarters was established in September 2017, under the premise of limited resources in the group, Pentium, which had supported the face of its own brand cars in the previous joint venture era, had to give way to the red flag brand with special status.
In fact, in the next few years, the development of FAW Pentium can indeed be described as “bumpy”.
In the past few years, although it has produced eye-catching products, it is in a passive situation in the new energy and intelligent transformation of the automobile industry, and the sales volume is declining year by year.
Accurate positioning, compact and easy to use, distinctive personality and low price made the Pentium pony popular once it went on sale, but in 2024, everything finally changed.
Driven by the popular Pentium pony, FAW Pentium sold more than 150000 new cars last year, an increase of 25% over the same period last year, the highest level in a decade.
Similar to the elder brother Red Flag brand, the sales of new energy vehicles are particularly eye-catching, reaching 82872 units, an astonishing 214% year-on-year increase.
The new energy penetration rate of the whole brand has reached 55% in more than half.
Yueyi 03 is the key to whether the Pentium brand can go further this year.
The compact pure electric SUV Yueyi 03, which was released during last year’s Guangzhou auto show, and the medium-sized plug-in hybrid SUV Yueyi 07, which has been filed with the Ministry of Industry and Information Technology and is expected to be launched in the first half of this year, also prepare the opening products for Pentium in 2025.
The contrast with the independent brand is the gradual weakness of the joint venture brand.
Throughout 2024, sales of the three brands responsible for FAW-Volkswagen, Volkswagen, Jetta and Audi, were significantly lower than in 2023.
And its decline has also become the most important factor in the decline in vehicle sales of the whole group compared with the same period last year.
At this stage, the core sales of FAW-Volkswagen brand still rely on fuel models such as Maiteng, but even in the face of an unfavorable situation, FAW-Volkswagen still maintains the first sales position of domestic joint venture car companies in the whole year.
Moreover, FAW Audi still has a regulation of 611000 vehicles, including the annual sales of imported cars.
Although the model is down significantly from 698000 in 2023, it still ranks first among luxury brands.
The lack of products corresponding to the market demand is the main problem facing FAW-Volkswagen at present.
Suiteng, Maiteng, Tanyue and Bora are still the core support of their annual sales.
The annual sales of Suiteng alone account for 1/4 of the sales of the entire FAW-Volkswagen brand, and the proportion of other models mentioned above is also between 1020% and 20%.
The main problem with ID.
7 VIZZION is that it is late to launch but the proportion of new energy models has not been able to support a corner of sales.
The ID.
4 CROZZ, which has the largest sales volume, totaled no more than 40, 000 vehicles for the whole year, and less than 10, 000 ID.
7 VIZZION, which was once highly expected.
In addition, although the market is highly optimistic about the new generation of hybrid models, what FAW-Volkswagen can provide to consumers is still the previous generation of Mai Teng GTE and Tan Yue GTE.
The most urgent problem for FAW-Volkswagen is to come up with the products expected by the market as soon as possible.
The same problems, such as the lack of products that can compete directly with the current independent new energy, also test FAW and Toyota.
But throughout 2024, FAW Toyota still had a good record in sales-more than 800000 vehicles, or 800199 to be exact.
In 2023, it was 800018.
This also makes FAW Toyota somewhat proud to hang the words “mainstream joint venture car companies have been growing for two years in a row” on the annual sales poster.
What helped FAW Toyota achieve this is that its dual-engine models have better energy consumption than traditional fuel-fueled vehicles, although they are not national standard new energy models.
Dual-engine models make FAW Toyota’s products have top-class energy consumption in fuel vehicles, of course, as mentioned earlier, although the dual-engine series of “energy-efficient vehicles” have helped the brand to maintain its total sales in this environment, but FAW Toyota is also faced with the problem of lack of new energy popular models.
RAV4 Rongfang, Carola Ruifang, Carola, Asian Dragon and Grevia made up its main market last year, while bZ3’s sales could be described as “good”, but the total was less than 7 per cent.
FAW Toyota is also in urgent need of a new energy product that is highly recognized by the market, especially the hybrid one.
In view of the fact that the commune does not involve commercial vehicles, the above contents actually leave out FAW Liberation, a very important part of FAW Group.
In the end, let me make a special mention– according to the latest official figures, FAW Jiefang brand vehicle sales exceeded 250000, of which 15800 new energy vehicles doubled compared with the same period last year, and overseas sales increased by more than 60, 000.
Now that export is mentioned in fact FAW Group has made remarkable achievements in export in 2024.
The export volume for the whole year reached 125000 vehicles, an increase of 36.
2% over the same period last year.
The export business of the three independent brands of Red Flag, Liberation and Pentium has improved significantly.
It is obvious that there will be both joys and sorrows for FAW Group in 2024.
The good news is that Red Flag and Pentium, the two independent passenger car brands that have been looking forward to self-improvement, foothold and rise, have indeed made commendable progress.
The worry is that since the beginning of the era of joint ventures, joint venture brands, a long-term source of profit, are facing a test.
For more than a decade the path that everyone has been used to shows its end at the end of 2024.
However, after the chaos of barren grass, branches and even thorns, we are moving towards a truly bright road.
This is the end of the 2024 sales count of FAW Group.
However, in the last paragraph of the article, the author, who has always been disgusted with all kinds of “chicken soup”, would like to add a motivational sentence about the “comfort zone” that has been widely circulated before– the comfort zone is just a place to rest, and real growth lies in the brave step.
May the eldest son of the Republic’s automobile industry embark on a new journey of his own in the new year.
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