AutoBeta(AutoBeta.net)04/06 Report--

The extremely difficult first quarter has passed, and while China's auto market is still in the doldrums, FAW Pentium has achieved sales growth against the trend.

According to the official sales data released by FAW Pentium, terminal sales reached 22006 in the first quarter of 2020, up 12 per cent from the same period last year, and 21216 wholesale vehicles, up 0.5 per cent from the same period last year. Under the background that the current car market is still in the downtrend, the sales performance of FAW Pentium can be said to have outperformed the market.

In terms of specific models, the T99, T77 and T33 of FAW Pentium are favored by consumers. Among them, the terminal sales of Pentium T99, Pentium T77, Pentium T33 and Pentium X40 were 1959, 1337, 1337 and 6697 respectively in the first quarter. In terms of new energy vehicles, the cumulative terminal sales of Pentium B30EV and X40EV are 2600.

Judging from the development process of FAW Pentium, FAW Pentium sales fell a few years ago and only rebounded since 2019, with an increase of 33% to 120500 vehicles compared with the same period last year. It is understood that FAW Pentium's sales target is 200000 vehicles in 2020. Although FAW Pentium's sales increased by 12% in the first quarter compared with the same period last year, the target completion rate was only 9%. The main reason is the impact of the epidemic on the automobile industry. FAW Pentium needs to make more efforts to achieve its annual sales target.

According to FAW Pentium's latest product plan, three new strategic models C105, D357 and D365 will be launched this year. The C105, which was unveiled at last year's Guangzhou Auto Show, is the first all-electric model based on the FME platform. D356 and D357 are positioned as small SUV and compact cars respectively.

In addition to FAW Pentium, FAW Red Flag brand also bucked the trend in the first quarter. According to official sales figures released by FAW Hongqi, FAW Hongqi sold a total of 25000 vehicles in the first quarter of 2020, up 88 per cent from the same period last year, including 8620 in March, up 62.6 per cent from the same period last year. In the case of a number of car companies' sales halved, FAW Red Flag's sales are also eye-catching.

At present, FAW Red Flag has five models on sale, namely, H5, H7, HS5, HS7 and E-HS3, among which H5 and HS5 are the main sales force of FAW Red Flag. Red Flag H5 is the first model of the new Red Flag brand, which is highly sought after by consumers because of its product power and cost performance.

Red Flag brand sold more than 100000 vehicles in 2019, an increase of 203% over the same period last year. At the beginning of this year, FAW Hongqi set a long-term goal of selling 200000 vehicles in 2020, 400000 in 2022, 600000 in 2025 and 800000 to 1 million in 2030.

In terms of product planning, the Red Flag brand plans to launch 21 new cars within 5 years, covering L-Series (New Red Flag Supremacy cars), H-Series New Red Flag mainstream cars), S-Series (New Red Flag Coupe) and Q-Series (New Red Flag Business cars). Among them, new energy vehicles account for 18 models.

It is worth mentioning that according to the announcement issued by FAW car on March 25, FAW Pentium car Co., Ltd. has returned to FAW shares and become an unlisted wholly-owned subsidiary of FAW shares. FAW cars are no longer the shareholders of FAW Pentium.

Industry insiders said that FAW Pentium brand return to FAW shares, FAW Red Flag together to play a role, FAW Group can also give greater support to the new Pentium. In July last year, FAW Group put forward specific plans for the future development of FAW Pentium and FAW Red Flag at its internal meeting. FAW will give 500 million yuan and 300 million yuan to FAW Pentium brand and R & D every year, totaling 2.4 billion yuan in three years to achieve the goal of "1 million vehicles in three years and zero profit margin".

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