AutoBeta(AutoBeta.net)06/01 Report--

At the end of May, FAW Hongqi officially released the latest sales data. In May, the sales volume of Hongqi brand reached 15100 vehicles, with a year-on-year growth of 133%; from January to May, the sales volume reached 54600 vehicles, with a year-on-year growth of 116%. Although the sales scale of Red Flag is not large, it is also the brand with the highest growth rate among independent brands.

Hongqi brand has become the main brand in FAW Group's independent business reform, transforming from official car to civilian image, and at the same time, the promotion of new car launch has been further accelerated. Among them, Hongqi H5 and HS5 have become the main driving models, with monthly sales of about 5000 vehicles;H7 and HS7 bear the market share of middle and high-end vehicles. In 2019, the accumulated sales volume of Hongqi brand is 100,000 vehicles. Hongqi plans to launch a variety of high-end models in 2020, and the sales target is also set at 200,000 vehicles.

In addition to the growth in sales of private terminals, Auto Group has also established its travel platform "Qimiao Chuxing", positioning itself as a high-end government and business travel service platform. Its main business includes online car booking, car rental, auto finance and new energy vehicle operation.

At present, FAW Hongqi brand has three sedan products of L5, H7 and H5, as well as three SUV products of HS7, HS5 and E-HS3. FAW Hongqi will launch flagship sedan H9, brand-new H7 and H5 in 2020, as well as the appearance of mass production model Hongqi E-HS9.

Positioning the red flag H9 pre-sale of medium and large cars from 350,000 yuan, will be compared with Audi A6L, Mercedes-Benz E-class, BMW 5 series and other models. In the middle of May, Hongqi H9 has been put into production in the factory. The new car will provide 2.0T+48V light hybrid system and 3.0L V6 supercharged power. The transmission is matched with 7-speed DCT dual clutch gearbox. The new car is scheduled to be officially launched in June. The market positioning of Hongqi H9 is higher than that of Hongqi H7, and it will become the flagship car of mass production under the brand. It has been innovated in design. It adopts brand-new family language, including straight waterfall grille shape, red flag unique front LOGO, lamp strip surrounding the head and two-color body painting, etc., all of which highlight the high-end positioning of Hongqi H9.

In addition, the brand new production model with internal code E115 has been put into production in the factory, and the new car is expected to be named E-HS9, positioning a large pure electric SUV. Relevant documents show that Hongqi will start production of pure electric SUV code E115 in 2020, with a total investment of 1.75 billion yuan and a maximum production of 51,500 vehicles within six years.

"In April 2020, Changchun City Government, FAW of China and Silke Company of the United States jointly signed the letter of intent for cooperation of Hongqi S series project. FAW and Silke Company will establish a joint venture company to manufacture the first Hongqi sports car model." According to the plans announced by both parties, the Hongqi S Manufacturing and Delivery Center will be located in Changchun and constructed in three phases, gradually realizing the domestic assembly and delivery of Hongqi S9 and S7 super sports car products, as well as the domestic manufacturing and delivery of Hongqi S5 and S3 models.

In the next five years, Hongqi brand will form 21 brand-new products covering L (supreme car), S (coupe), H (mainstream car) and Q (business vehicle) series. Red Flag officials also announced a sales target of 200,000 vehicles in 2020.

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