FAW Group's sales in May increased by more than 30% year-on-year

The latest sales of China FAW Group (hereinafter referred to as "China FAW Group") announced by the SASAC website yesterday showed that in May, FAW Group achieved sales of 236,000 units, up 32.8% year-on-year, following an increase of 18% in April from a year earlier It achieved double-digit growth again, which was higher than the industry growth rate by about 18%, and its market share reached 14.9%, showing a continuous rising trend.

According to statistics, from January to May of this year, the cumulative automobile sales of FAW Group have reached 1.115 million, an increase of 7.1% year-on-year, which is 6 percentage points higher than the industry growth rate.

In terms of its brand companies, FAW-Volkswagen achieved sales of 120,500 vehicles in May. Its single-month sales exceeded 120,000 for the first time, an increase of 51% year-on-year; FAW Toyota Motor achieved sales of 53,000 vehicles in May, and cumulative sales reached from January to May. 24,200 vehicles, a year-on-year increase of 39.5%.

It is worth noting that in the news released by FAW Group, there was no mention of any information about sales of its own brand.

The National Audit Office issued a latest audit of FAW Group on June 1st. The report pointed out in the section “Issues Concerning Major Economic Decision-Making Issues” that “From 2008 to 2010, the proportion of independent product R&D investment of FAW Group. On the low side, the profitability of the self-owned brand vehicles is not strong, and the profit of the whole vehicle business mainly comes from joint ventures and cooperative subsidiaries.

Although Xu Xiangping, the general manager of FAW Group, previously stated that FAW will launch 17 new cars in the next five years and the sales volume will exceed one million vehicles. By 2015, FAW Group will have sales of more than 5 million vehicles, including more than 2 million independent brands. However, people in the industry believe that although FAW is the leader of the Chinese auto industry, its performance in the self-owned brand area appears to be somewhat inconsistent with its high sales.

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