Hongqi aims to sell 400,000 cars in 2021

FAW Group is considering a higher sales target for Hongqi in coming years, as the Chinese premium marque has become more popular than expected.

Hongqi car sales in the first six months of 2020 totaled 70,000. This represents a rise of 111 percent from the same period in 2019, despite a 22 percent fall in China's overall passenger car market.

"The sales goal of 200,000 set for Hongqi this year will not be a problem," said FAW Chairman Xu Liuping on Wednesday. He was speaking at an industry conference organized by Auto Business Review in Wuhan, Hubei province.

Xu said FAW is considering a more aggressive target for Hongqi, hoping its sales in 2021 to at least double this year's figure. In its plan, released in January, 400,000 was the goal set for 2022.

Xu said he hopes Hongqi sales could reach 500,000-600,000 in 2022 and 700,000-800,000 cars in 2025.

But he added that the targets have not yet been finalized and the company is researching the market.

Hongqi's new models including the H9 sedan have helped sales and a more important electric SUV, the E-HS9, is expected to hit the market in the fourth quarter this year, said Xu.

The models are part of a major campaign FAW started in 2018 to rejuvenate the premium brand, which was previously reserved for heads of state and senior government officials.

According to its plan, the brand will have launched 17 new models by 2025 to develop a younger customer base with a larger following.