Hongqi sales spike

Source:Xinhua Published: 2019/1/23 22:38:40

Hongqi, a brand under China's leading automaker FAW Group, sold 33,028 cars in 2018, up 602 percent year-on-year, FAW Group said on Wednesday.

The surge was recorded after a new Hongqi H5 model, which targets private buyers at prices between 149,000 yuan ($21,900) and 195,000 yuan, was released last year. FAW Group said it has sped up the expansion of its product portfolio.

Hongqi, meaning "red flag," is China's iconic sedan brand. The brand was established in 1958 and has been used as the vehicle for parades at national celebrations.

Posted in: COMPANIES

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