AutoBeta(AutoBeta.net)10/01 Report--

FAW Red Flag is the first to release sales data in September and the first three quarters. FAW Hongqi brand sold 21500 units in September, up 86 per cent from January to September, up 104 per cent from January to September, according to official data. The substantial increase in sales of the Red Flag brand has become one of the few independent brands with sustained growth in 2020.

In the face of the continued hot sales of the Red Flag brand, many netizens questioned that "the main reason for the sudden increase in Red Flag sales is that it is purchased in large quantities by government units." In response to netizens' questions, Wang Guoqiang, deputy general manager of FAW, said at the 2020 World New Energy Automobile Congress that "of the 100000 cars sold in Red Flag in 2019, only 600 are government public cars, and the rest are to C terminals."

As an independent high-end brand, Red Flag's monthly sales of 10,000 vehicles has been regarded as a good achievement. At present, there are six models on sale under the Red Flag brand, including H5, H7 and H9 sedan products, as well as HS5, HS7 and E-HS3 SUV products. Through the analysis of previous data, Hongqi brand mainly relied on HS5 and H5 models to achieve sales growth. FAW Hongqi sales rose 110% to 21020 vehicles last month, of which 10721 were sold by HS5 models and 7335 by H5 models.

In terms of new products, the Red Flag H9 officially launched in late August this year. As the flagship model of the Red Flag brand, the new car is positioned as a medium and large sedan with a price range of 30.98-539800 yuan, such as Audi A6L, Mercedes-Benz E-Class, BMW 5-Series and other models. The power side is equipped with 2.0T, 2.5T and 3.0T engines, matched by a seven-speed double clutch.

In addition, at the opening of the 2020 Beijing Auto Show on September 26, Red Flag E-HS9 also officially opened its pre-sale, with a pre-price range of 55-750000 yuan. The front face of the new car is somewhat similar to the Red Flag H9. The straight waterfall large-size grille adopts a closed design to locate the red flag E-HS9 body length, width and height 5209/2010/1731mm and wheelbase 3110mm of the pure electric large SUV. In the power part, Hongqi E-HS9 is equipped with a motor in the front and rear axle, the maximum power of the low-power version is 218 horsepower, the maximum power of the high-power front motor is 218 horsepower, and the maximum power of the rear motor is 333 horsepower.

Up to now, Red Flag product line has covered medium, medium and large SUV as well as car models, including fuel and pure electric power. With the improvement of the product line, FAW Red Flag will also go further to its established sales target.

According to the plan put forward by Xu Liuping, chairman of FAW Group, the Red Flag brand will maintain its sales target of 200000 vehicles this year, and strive to double this year's target next year, with a target of 50-600000 vehicles in 2022 and 70-800000 vehicles in 2025. The 2030 target is still under formulation.

FAW Hongqi sold a total of 130000 vehicles in the first three quarters, achieving 65% of the annual sales target of 200000 vehicles. Although there is still a sales gap of 70, 000 vehicles, it is not a big problem to achieve the set target while maintaining sales growth. Of course, for the Red Flag brand, if the follow-up development wants to continue strong growth, it also needs to make comprehensive efforts from many aspects, such as brand word-of-mouth, product quality, market competitiveness and so on.

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