AutoBeta(AutoBeta.net)03/01 Report--

On the evening of February 28th, FAW Red Flag released its cumulative sales data from January to February this year. The data showed that FAW Red Flag had accumulated sales of 63800 vehicles from January to February, an increase of 40% over the same period last year. FAW Red Flag achieved 14.18% of this year's sales target in the first two months of this year according to its annual sales target of 450000 vehicles. According to a previous report by the auto industry, FAW Red Flag sold 42100 vehicles in January, up 30 per cent from a year earlier. According to the data, FAW Red Flag's sales in February were 21700, down 48 per cent from the previous month, but up about 67 per cent from February last year. As for the reason why February sales halved nearly half compared with January, FAW Red Flag has not been announced, and the auto industry is expected to have something to do with the Spring Festival holiday in February and only 28 days in the whole month.

It should also be noted that the data released by FAW Red Flag are wholesale sales data, which is why the data of FAW Red Flag is always more complete. It is understood that FAW Red Flag sold 42100 vehicles in January this year, but traffic insurance data show that FAW Red Flag has a risk of 34771 vehicles, with a gap of about 7000 vehicles. As a result, FAW Red Flag sold 21700 vehicles in February, and the final risk is expected to be about 15000. (note: the insured amount refers to the number of compulsory traffic insurance purchased after the vehicle is sold.)

Red Flag is an independent high-end brand of FAW Group, with a sales target of 400000 vehicles in 2021, but eventually failed to meet its target, but FAW Red Flag remains firmly at the top of the second-tier luxury brand. According to Shanghai Insurance data, Red Flag brand sold 271600 vehicles in 2021, up 42.28% from the same period last year, higher than traditional luxury brands such as Cadillac (232800), Lexus (219200) and Volvo (119100).

With regard to this year's annual sales target, FAW Red Flag said at the FAW and Red Flag Brand News Annual meeting held on January 18 this year that FAW Red Flag aims to achieve annual sales of 45-500000 new cars in 2022, an increase of 50 per cent over the same period last year. According to the calculation of 450000, it means that in the next 10 months, FAW Red Flag will have to achieve the target of at least 386200 vehicles, and an average of 38620 vehicles per month. However, looking back on the monthly sales of FAW Red Flag in 2021, only 25000 vehicles will be sold every month. An average of 38620 vehicles in the next 10 months means that FAW Red Flag will face greater pressure.

According to the previous understanding of the automotive industry, FAW Red Flag models include the car family composed of E-QM5, H5, H7 and H9, and the SUV family composed of HS5, HS7, E-HS3 and E-HS9. The product system covers the middle and high-end market of 15-700000 yuan, covering fuel and pure electricity. Among them, in the past year, FAW Hongqi's main sales models are HS5, H5, H9. In terms of price, the price ranges of Red Flag HS5 and Red Flag H5 are 18.38-249800 yuan and 14.58-190800 yuan respectively, while Red Flag H9, as an independent car brand, is the only traditional fuel medium-sized sedan that directly competes with Mercedes-Benz E-Class and BMW 5-Series, with a price of more than 500,000 yuan. In terms of sales volume, in the past year, the highest-selling model of Red Flag is HS5, with cumulative sales of 129632 vehicles, which is the only model under FAW Red Flag with annual sales exceeding 100000 vehicles, followed by Red Flag H5 and Red Flag H9, with cumulative sales of 82168 and 33658 respectively.

Last month, the best-selling model of Red Flag was still Red Flag HS5, with cumulative sales of 16279 vehicles in January, followed by Red Flag H5 with 11739 in January. So far, Red Flag officials have not released specific model sales figures for February, but according to FAW Red Flag's past month sales, it is speculated that the best selling models of FAW Red Flag products may still be Red Flag HS5 and Red Flag H5. Of course, this guess will not be confirmed until further official announcement.

In terms of the launch of new car products this year, it is understood that FAW Red Flag will launch a new flagship SUV model Red Flag LS7 this year, and the car is expected to start pre-sale in mid-late March. Red Flag LS7 has been officially declared in December last year, the new car positioning large SUV, is the first model of the Red Flag L series, but also the latest flagship model. In terms of body size, the length, width and height of the new car are 5695/2095/1985mm and the wheelbase is 3309mm. In terms of power, the new car will be equipped with a 4.0T engine with a maximum power of 265kw.

FAW Hongqi will also launch E-QM5 rechargeable and H9 + models in March, both of which are expected to go on sale in March. Among them, Hongqi E-QM5 positioning pure electric medium-sized car, officially announced on June 22 last year, the vehicle price of 239800 yuan, power, the new car uses a single motor front layout, motor power 100kW, NEDC mileage of 431km, equipped with BYD production of lithium iron phosphate battery pack The overall design of the Hongqi H9 + is basically consistent with the ordinary version of the Hongqi H9 model, and the relatively big change of the new car is the lengthening of the wheelbase. In terms of body size, the length of the Hongqi H9 + will reach 5337mm and the wheelbase will be 3260mm, surpassing Mercedes-Benz S-Class, BMW 7-Series and Audi A8L in an all-round way.

In addition, the Red Flag H6 (code C100) and the new MPV (code C095) will be launched this year. In the future, FAW Red Flag will form four major product camps: h-series (mainstream cars), L-series (supreme cars), Q-series (commercial vehicles) and S-series (supercars). Up to now, all the products that have been listed belong to H-series, which is currently the main product series promoted by the Red Flag brand. Wang Guoqiang, deputy secretary of the party committee of one Automobile Group Co., Ltd., has said that all the products of the Red Flag brand will be fully electrified by 2030. by 2025, it will launch a total of 28 new products, with total sales of more than 1 million vehicles. Among them, 15 new energy vehicle products will be launched, and new energy vehicle sales will account for 40% of Hongqi brand's total sales, which will exceed 400000.

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