In 2024, FAW Group’s own brands Hongqi, Jiefang and Bestune, made sustained efforts and sold  819,000 vehicles in all, up 14.7 percent year-on-year, marking a continued increase in market share.

Hongqi NEV products unveiled, which were developed on the Tiangong all-electric vehicle platform and the Jiuzhang intelligent platform.

Hongqi, the premium passenger vehicle brand under FAW Group, made remarkable progress and breakthroughs in 2024. Hongqi debuted new energy vehicles developed on the Tiangong all-electric platform and Jiuzhang intelligent platform, further deepened its layout in NEV market. Hongqi energy saving vehicle brand unveiled refreshed models, with its best-selling lineup now offering plug-in hybrid versions. Additionally, Hongqi Golden Sunflower State Guest Fleet had been officially launched. The independent channel network highly enhanced the user reach. Centered on high-quality development, Hongqi brand had achieved leapfrog growth in sales and market competition through strategic transformation, technological innovation, user experience enhancing, brand image building, and innovative marketing. The brand's annual sales surpassed 410,000 units, marking a year-on-year increase of 17.4% and achieving positive growth for the seventh consecutive year.

Jiefang J7 heavy truck assembly line

In 2024, Jiefang, the commercial truck brand under FAW Group, made progress steadily and consolidated its leadership in commercial vehicle sector. By continuously enhancing its core competitiveness, FAW Jiefang has made breakthroughs in more than 100 core technologies in key fields. Last year, the company made many remarkable achievements, such as the 9 millionth Jiefang truck rolling off the production line, the 6DV super factory commencing operation, and China's first direct-injection hydrogen engine for heavy-duty commercial truck unveiled. With numerous new products launched, Jiefang had led the development of China's commercial vehicle industry as a pioneer. Jiefang delivered more than 250,000 vehicles in 2024, a year-on-year increase of 5.1%, with medium and heavy-duty trucks securing a market share of 26.6%, ranking first in China. The brand value of Jiefang had remained the leader for 13 consecutive years.

Bestune Xiaoma electric vehicles roll off assembly line at Yancheng production base.

Focusing on a full-scale upgrade in brand, products and user experience, Bestune, FAW Group’s another wholly-owned passenger vehicle brand, maintained its steady growing momentum in sales. Last year, Bestune saw its sales exceed 151,000 units, which indicated a year-on-year growth of 25% and hit a record high level in a decade. In 2024, FAW’s first A00-segment electric vehicle, the Bestune Xiaoma went into mass production at the intelligent manufacturing plant in Yancheng city, Jiansu province. Monthly sales of Bestune’s new energy micro-electric vehicles has consistently exceeded 10,000 units. 

Looking ahead, FAW Group will continue to accelerate the efforts to make breakthroughs in core technologies in key fields, strengthen and optimize the development of Chinese automotive brands, enhance core functions, and increase core competitiveness, to contribute to the great cause of building China into a great country and achieving national rejuvenation.

FAW is a leading global manufacturer of quality passenger cars, trucks, and buses. Established in 1953, the company is China’s oldest and largest automotive group. Annual sales exceed three million units.

| Editor: Duying
| Initial Review Chen Duohua
| Second Review: Liu Shumei
| Final Review: Li Xiang