On January 9, FAW Group Corporation (FAW) held a press conference in Guangzhou, capital city of south China’s Guangdong Province.
Qiu Xiandong, Deputy Secretary of the CPC FAW Group Committee and President of the Group, introduced FAW’s development strategies, plans and specific measures, and announced an annual sales target of 4 million vehicles in the year 2023, which should jump 24.8% year-over-year.
Among the vehicles to be sold in the new year, nearly 400,000 units are set for new energy vehicles, representing a 113.3% hike from a year ago. In the meantime, FAW aims to realize an annual revenue of 750 billion yuan, up 19% compared to 2022.
FAW saw its 2022 annual sales volume reach 3.2 million vehicles, realized an annual revenue of 630 billion yuan, which resulted in a yearly profit of over 49 billion yuan, according to the conrefence.
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.