In a sign the Chinese market is staying buoyant early in 2017, FAW Group reported healthy wholesale vehicle deliveries of 323,000 units in January, up 13.9% year-on-year.
As well as hitting a record sales high in the month, the company also said it sold 29,000 of its domestic brand Jiefang vehicles in January, a growth of nearly 130% on the same period last year.
Sales of the Group’s multiple joint venture branded vehicles also increased in the month, including 147,000 units of FAW-Volkswagen, up 15.5%; 55,000 FAW-Toyota, up 4.6%; and 12,000 FAW-Mazda, up 139.5% year-on-year.
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FAW has set an annual sales target of 3.3m vehicles in 2017, including some 2m units of joint venture brands. The Chinese vehicle market is widely forecast to slow in 2017 due to the partial removal of a tax incentive (purchase tax reduction in 2016) and the impact of a slowing economy on vehicle demand.
FAW is China’s leading automaker in terms of volume.
