China News Service, Changchun, March 3 – China FAW Group, a major player in the automotive industry, is set to export over 50,000 vehicles in 2008, with total trade volume surpassing $500 million. Looking ahead, the company aims to sell more than three million units by 2012, signaling its ambition to become a global automotive leader.
According to Teng Tien, deputy general manager of FAW Group, the company produced and sold nearly 1.5 million vehicles in 2007, achieving annual sales revenue of 188.7 billion yuan. For 2008, the group has set a target of selling 1.7 million units, reflecting continued growth and market confidence.
In recent years, FAW has accelerated its international expansion. The production of "Liberation" commercial vehicles at the Amur Auto Plant in Russia and the establishment of an economical car production base in Mexico show that this large state-owned enterprise is actively engaging in global competition.
FAW executives emphasized that exports are essential for Chinese auto companies, especially those with their own brands, to survive and thrive in the global market. Over the past few years, FAW's vehicle exports have grown rapidly, consistently exceeding 10,000 units annually and establishing a strong overseas sales network. This demonstrates the increasing competitiveness of FAW products on the world stage.
In addition, FAW is intensifying its efforts in product development and independent innovation to maintain its dominance in the truck segment and build a premium national brand. In February, China’s first self-developed V12 engine for high-end domestic cars was successfully tested at the FAW Technology Center. Experts believe this marks a significant milestone for the Hongqi brand, paving the way for greater success in the luxury car market.
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