AutoBeta(AutoBeta.net)03/12 Report--

Due to the continuing impact of COVID-19 's epidemic, the sales data of Chinese car companies fell almost across the board in 2020. All of the top 15 car companies ranked by the Federation of passengers slipped, with sales of Beijing Mercedes-Benz falling as low as-11.5% in the first two months, while SAIC GM Wuling fell as much as 56.2%. However, according to FAW Red Flag brand official data, although sales accounted for a relatively low, but achieved growth.

Red Flag brand officials said vehicle sales in February were 3752, up 32.5 per cent from a year earlier to 16382 from January to February, up 103.8 per cent from a year earlier. In 2020, domestic car companies almost fell into a sales dilemma, and Red Flag achieved growth, which is also quite unexpected.

At present, Hongqi brand has a total of five models on sale, which are H5, H7, E-HS3, HS5 and HS7 models, ranging from medium-sized cars to medium-and large-sized SUV. Hongqi H9 will be listed as medium-and large-sized cars this year, further enriching the product line.

Red Flag brand sales growth, in addition to the contribution of terminal retail, there are more vehicles invested in the travel business also helped to increase sales. In September 2019, FAW Group established its travel platform, Qimiao Travel, to locate the high-end political and business travel service platform. Its main business includes online car booking, car rental, auto finance and new energy vehicle operation, and has opened services in many cities. Hongqi H7, H5 and E-HS3 will be purchased in large quantities as the main operating models. In addition, FAW, Dongfeng, Changan three car companies jointly established "T3 travel", Red Flag H5 vehicles are also put into the operation team.

According to the product plan, Red Flag brand will have a number of new cars on the market this year, including Red Flag H9, Red Flag E115 electric vehicles and so on.

The Red Flag H9 positioning medium and large sedan was officially unveiled on January 9 this year. Due to the postponement of the Beijing auto show, Red Flag has also changed the original plan for the launch of the new car. Officials say the H9 has started a reservation and will go on sale this year. Red Flag H9 has made an innovation in design, which is led by Chinese designer Ding Yangfeng. In terms of power system, the car uses a longitudinal engine rear-drive layout, providing 2.0T turbocharged engine and 3.0L mechanically supercharged V6 engine, and the gearbox is said to be a seven-speed double clutch.

Red Flag will also start production of the pure electric SUV codenamed E115 in 2020, with a total investment of 1.75 billion yuan and a total production of 51500 vehicles within six years of planning. The new car is a mass-produced version of the Red Flag E115 concept car, which was first launched at the Frankfurt Motor Show in September last year and adopts the latest family design style of Red Flag as a whole, and the effect tends to be science fiction avantgarde. The E115 is built on the FMA platform and locates a high-end pure electric SUV. Hongqi officials said the new car will use four-wheel drive with seven driving modes to choose from, with a 0-100km/h acceleration time of less than 4 seconds and a maximum mileage of more than 600km.

In the field of high-end products, the Red Flag brand has planned a new generation of Red Flag L5 new flagship cars and Red Flag S9 supercars. The new generation of Red Flag L5 is scheduled to be put into production by the end of this year, with only five units assembled each year. Red Flag new supercar S9, power is equipped with a set of V8 turbocharged engine + motor composed of oil-electric hybrid system, comprehensive power up to 1400 horsepower, the maximum speed can go to 400km/h, under normal conditions, 100 km acceleration is less than 2.3s, while under extreme conditions, the breaking time is only 1.9s. Red Flag is scheduled to be delivered worldwide in 2021.

Today, Hongqi brand has become the main independent brand of FAW Group, and has been vigorously developed. The cumulative sales of Red Flag reached 100000 in 2019, with a target of 200000 in 2020. Affected by the aftermath of the epidemic and the continuing downturn in the domestic car market, the growth momentum of the Red Flag brand for many months may be stopped, and it will be difficult to achieve the set goals by the end of the year.

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