China's FAW Group reports robust vehicle exports in H1
CHANGCHUN -- China's leading automaker FAW Group Co Ltd exported 10,500 complete vehicles in the first half of this year (H1), up 130 percent year-on-year, said the company on Thursday.
The export volume of the company registered a yearly increase of 175 percent during the period, reaching $240 million.
Among the exported products, the Hongqi-branded vehicles are favored by overseas markets. So far, FAW's high-end automobiles represented by Hongqi have been exported to countries including Russia, Saudi Arabia and South Africa.
FAW is expected to export a total of 23,500 vehicles this year, with an export value of $500 million, up 102 percent year-on-year, said Yu Bin, deputy manager of China FAW Group Import and Export Co Ltd.
Founded in 1953 and headquartered in the northeastern province of Jilin, the State-owned FAW Group is known as the cradle of China's auto industry.
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