Chinese carmaker FAW Group reports robust sales in January

China's leading automaker FAW Group Co., Ltd. reported surging vehicle sales in January, getting the company off to a good start for 2024.

FAW Group's auto sales exceeded 296,800 units last month, up 54.2 percent year on year, according to the carmaker.

Of its total sales, FAW Group car brand Hongqi contributed 40,300 units alone, a year-on-year increase of 82.9 percent. FAW-Volkswagen, FAW's passenger car joint venture with German carmaker Volkswagen, sold 168,000 cars, up 46.7 percent.

FAW Group also sold 11,529 vehicles overseas, posting surging growth of 186 percent year on year.

The group said it has set a sales target of 3.47 million units and a sales revenue target of 636 billion yuan (US$89.5 billion) for 2024.

FAW Group is state-owned and headquartered in Changchun, the capital of northeast China's Jilin Province. It has produced and sold more than 54 million vehicles over the course of more than six decades.