AutoBeta(AutoBeta.net)05/01 Report--

On May 1st, FAW Hongqi released the latest sales figures, showing that cumulative sales from January to April in 2021 were 91900 vehicles, an increase of 132% over the same period last year. Based on the previous data released by FAW Red Flag, FAW Red Flag sold more than 70000 vehicles in the first quarter of 2021, that is to say, FAW Red Flag sold more than 21900 vehicles in April this year. It is understood that this year's FAW Red Flag sales target of 400000 vehicles, has achieved the target of 22.97%, the remaining eight months need to complete the sales of 310000 vehicles, the pressure is not small.

It should be noted that FAW Red Flag published wholesale sales data, and finally reflected in the market sales situation has a certain gap. For example, FAW Red Flag previously reported that it had sold more than 70000 vehicles in the first quarter, but according to the terminal retail data of the China Automobile Center, the volume of risk on the Red Flag brand was 54115 in the first quarter, lower than Tesla, Lexus and Cadillac in the second-tier luxury brand market. In other words, although FAW Red Flag official data is much higher than Lexus, Cadillac and other brands, but reflects that there is still a large gap in the final market. Of course, as an independent brand that was on the verge of collapse, FAW Red Flag is doing well today.

In the interpretation of the growth data of most brands, we will often find that sales have become wholesale to dealers or online car-hailing, or according to the brand tune of Red Flag, they have entered the purchase of official cars of the relevant departments. Red Flag is not in the above situation at present. In terms of the composition of sales in 2020, the travel market accounts for 1%, government procurement accounts for 3%, and private retail accounts for 96%. In other words, the vast majority are still private cars. In addition, in terms of regional market sales, the top four best-selling provinces of Hongqi are Guangdong, Jilin, Sichuan and Zhejiang.

FAW Red Flag has formed a car family composed of H5, H7 and H9, and a SUV family composed of E-HS3, HS5, HS7 and E-HS9. The product system is relatively perfect, covering a medium-and high-end consumer market of 150000-700000 yuan. Referring to the data of the previous Federation of passengers, FAW Red Flag mainly relies on Red Flag H5 and Red Flag HS5 to maintain the overall sales level, and the comprehensive monthly sales are maintained at more than 10,000 vehicles. As the Red Flag brand relies on the volume of H5 and HS5 models, the overall transaction price is low. The transaction price of the Red Flag brand was 214200 yuan in the first quarter of this year, according to data from the China Automotive Center.

With the sinking of positioning, the gradual enrichment of products and the continuous development of marketing, the sales volume of Red Flag brand has ushered in high growth. 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. According to the Red Flag brand's plan, models such as the E-QM5 and the medium-term revamped HS5 will be launched this year. In addition, at the Shanghai Auto Show, the first supercar red flag S9 was officially launched and accepted for global booking. It is understood that the first batch of 99 cars with a global limit will be officially delivered in the second quarter of 2022.

As a rising independent high-end brand in recent years, Red Flag Motor is currently facing the problem of "sustained and stable" development. after high growth, it is also worth looking forward to whether Red Flag can maintain the stability of products and sales.

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