FAW Group and General Motors Report Sharp Growth in China Sales
Leading Chinese car manufacturer FAW Group Co., Ltd. sold nearly 1.06 million vehicles in the first quarter of 2021, up 74.3% over the same period last year. General Motors Co. and its joint venture in China sold over 780,000 vehicles in China in the first quarter of 2021, up 69% year on year.
The American automaker linked its sales growth in China to luxury and premium vehicles, midsize and full-size SUVs, and multi-purpose vehicles, Detroit News reported today.
Meanwhile, joint ventures FAW-Volkswagen and FAW Toyota reported 72.4% and 76.6% sales growth to 550,869 units and 217,102 units, respectively. Sales of the SAIC-GM-Wuling brand doubled to over 347,000 units, while sales of the Baojun brand grew 5 percent.
Founded in 1953 in Changchun, northeastern China, FAW Group is considered the cradle of the Chinese auto industry.