AutoBeta(AutoBeta.net)11/26 Report--

Xu Liuping, chairman of China FAW Group, said at the BOE Global Innovation Partnership Conference today that the red flag brand is expected to sell 110000 vehicles in 2019, an increase of 233% over the same period last year, and sales will reach 200000 by 2020.

Xu Liuping said that since the launch of the new Red Flag brand development strategy on January 8, 2018, Red Flag has achieved cumulative sales of 33028 vehicles in 2018, an increase of 602% over the same period last year, and 75520 from January to October 2019, an increase of 217% over the same period last year.

Judging from the sales data in recent months, FAW Red Flag sales do continue to increase, even in the depressed auto market environment, Red Flag monthly sales are basically maintained at more than 10,000 vehicles.

In August, FAW Red Flag exceeded 10,000 vehicles for the first time, an increase of 203 per cent over the same period last year. In September, FAW Red Flag sold 11570 new cars, up 188 per cent from the same period last year; and in October, FAW Red Flag sold 11880 vehicles, up 188 per cent from the same period last year. So far, Red Flag has achieved positive growth for 20 consecutive months.

With two months to go before the end of 2019, with this growth trend, Red Flag should have no problem achieving its annual sales target of 100000 vehicles this year, but there is still some pressure on Xu Liuping's 110000 vehicles.

FAW Group insiders believe that the reason why Red Flag has made such a brilliant achievement is Xu Liuping's support for the Red Flag brand after entering FAW, the second is the repositioning of the product brand, and the last is the innovation in marketing.

Since Xu Liuping was transferred to FAW Group, he has carried out a series of reforms to FAW, paying special attention to the development of FAW Red Flag, which is directly independent from FAW cars and directly operated by FAW Group.

In terms of product investment, FAW Group plans to invest 13 billion yuan in the next three years, of which Red Flag brand invests 2.4 billion yuan, and strives to achieve the sales performance of 400000 vehicles and the profit target of 6% within three years.

In the new car plan, Red Flag plans to launch 45 new products by 2030. At the Guangzhou Auto Show held on the 22nd, Red Flag brought seven models such as E115, HS5 and HS7 to participate in the show. Among them, Red Flag E115 is its first domestic debut. The car is a pure electric concept car, equipped with L4 self-driving technology, mileage up to 600km, planned for mass production in 2020.

Two or three years ago, FAW Red Flag brand sales were in the doldrums, with monthly sales of about a few hundred vehicles, and it was revealed several times that it would withdraw from the automobile market. Now under the leadership of Xu Liuping, the sales of the Red Flag brand have indeed improved, and it is no longer a brand that exists in name only.

In the current depressed environment of the car market, FAW Red Flag brand sales continue to grow, and it is also one of the few brands worthy of recognition.

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