FAW Group reports increase in vehicle exports during first half

Chinese automaker FAW Group exported 10,500 complete vehicles during the first half of this year, showing an increase of 130 percent year on year, the automaker said.

The export volume of the automaker registered an annual boost of 175 percent during the period, reaching $240 million.

Among the exported products, the Hongqi-branded automobiles are favored by markets outside China.

So far, FAW’s luxury automobiles represented by Hongqi have been exported to other nations such as Russia, Saudi Arabia, and South Africa.

FAW is expected to export about 23,500 vehicles during 2021, with an export value of $500 million, an increase of 102 percent year on year, said Yu Bin, deputy manager of China FAW Group Import and Export Co.