China FAW Group said its vehicle sales reached 3.302 million units in 2025, with revenue exceeding 541.5 billion yuan ($76.4 billion), as the state-owned automaker outlined growth targets and supply chain priorities for the coming planning cycle.
The figures were disclosed at FAW’s 2026 Hongqi Supply Chain Partner Conference held on Jan. 21 at Hongqi Hall. FAW said the performance kept the group among the industry’s leading players despite intensifying competition and a rapid transition toward new energy vehicles.
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Hongqi, FAW’s premium brand, recorded annual sales of more than 460,000 vehicles in 2025, supported by what the company described as improved coordination across its three sub-brands. The result marked the eighth consecutive year of growth for Hongqi and made it the first Chinese luxury automaker to surpass 2 million cumulative users, according to China FAW Group.
“2026 marks the opening year of the 15th Five-Year Plan and a critical period for restructuring and upgrading the automotive supply chain,” said Liu Yigong, general manager and deputy Party secretary of FAW, at the conference.
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FAW has set a full-year vehicle sales target of 3.546 million units for 2026. Within that, Hongqi is targeting sales of 550,000 vehicles this year and aims to exceed 1 million units annually by 2028, the company said.
The strategy aligns with broader industrial ambitions in Changchun, FAW’s home base, where local authorities are seeking to build a trillion-yuan automotive industry cluster. Plans include boosting new energy vehicle production to more than 1.4 million units by 2030 and lifting the localization rate of core components to 60%.
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FAW executives and industry observers said the key challenge for Hongqi will be increasing the share of competitive NEV models within its sales mix, rather than simply expanding volume. For FAW more broadly, the transition will require better integration of its joint ventures and proprietary brands, as the group seeks to avoid relying on Hongqi alone to drive its shift toward electrification.
