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Discussion Starter · #1 ·
China's First Automobile Works (FAW) Group aims to sell over 2 million vehicles a year by 2010.

If this target is reached, sales revenue in 2010 will exceed 200 billion yuan. Over 1 million of the vehicles sold will be designed and produced locally.

The principles of development for the Eleventh Five-Year Plan are self-development and cooperation.

FAW also established five development strategies of its own for this period: innovation in products and skills, increasing exports of cars (as oppose to car parts), developing products with high added value by improving research, overseas expansion and digital management.

By People's Daily Online
 

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new FAW Chassis plant in beijing

TRW Fawer Automobile Safety Systems (TFASS), a joint venture between FAW Group subsidiary Fawer Automotive Parts Co. Ltd. and TRW Automotive Holdings Corp., has announced the establishment of a new plant in Beijing to produce chassis modules for customer Beijing Benz-DaimlerChrysler Automotive Ltd. (BBDC).

The new state-of-the-art 4,500 square meter facility plans to employ up to 100 workers in the next five years to fulfill its annual capacity of module units at full production. Initially, the plant is committed to supplying rear axles, brake assemblies, front struts and steering knuckle assemblies for the Chrysler 300C and another upcoming sedan platform -- both with newly localized production in China.

Fawer Automotive Parts Co. Ltd. is a wholly owned subsidiary of FAW Group. It includes 9 FAW Group automotive component and systems plants and 8 joint venture facilities with foreign companies.
 

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FAW Reaches Net Worth of 35.7 Billion Yuan

The"Most Valuable Brand Evaluation China"recently performed an evaluation of brands of FAW Group and announced that "First Automotive" ranked 5th place in year 2006, with net worth of 35.7 billion Yuan (RMB). Value of the "First Automotive" is increased 2 billion Yuan (RMB) over last year. "Jiefang" ranked first place at the heavy duty truck with net worth of 11.4 billion Yuan (RMB). "Hongqi" also ranked the first place at car industry, with net worth of 5.8 billion Yuan (RMB). Brand value of "First Automotive", "Jiefang" and "Hongqi" has been increased for consecutive seven years.

The "Most Valuable Brand Evaluation" is conducted by the Beijing Famous Brand Assets Evaluation Company. This research report, issued annually since 1995, has become an important reference for understanding the development trends of China's enterprises and brands.
 

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around 200,000 to 300,000

and they just established a new line for the new J6 series HCVs.

go faw , check out the features. FYI.
 

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FAW Group's Trademark Value Ranks No.1

26/01/2007
In a recently released report from the China Brand Research Institute listing China's current top 500 most valuable brands, the "FAW" brand of FAW Group Corporation ranked first among automotive manufacturers and fifth overall with a net worth of 17.885 billion Yuan (RMB). China Commercial Bank ranked first overall, and 8 brands from Jilin Province, the home of FAW Group, also earned a place in the top 500. China's top 500 most valuable brands include companies from over 20 different industries, including textiles and clothing, home appliance, electrical equipment, and heavy machinery. Within the ranking, 59 brands from China's textile and clothing industry were listed. The food industry was represented with 44 brands, while the electrical equipment and machinery industries accounted for 41 brands.
 

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FAW Group business news

May. 15, 2007 (China Knowledge) – FAW Group Corp, one China's largest automakers, said it sold 133,000 vehicles in April, up 17.4% year-on-year, and a new monthly high for the firm. In a statement, the company said sedan sales for the month totaled 98,200 while sales of medium and heavy-duty trucks reached 20,300
 

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It's cars AND trucks, including those for commercial use, and includes all divisions of FAW, JV with VW, Toyota, Mazda, etc.

Total auto sales in China was 6, 7? million last year? I'm almost certain FAW accounted for more than 1 million of those.
 

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Discussion Starter · #12 ·
FAW auto sales rise 23% this year

Sales by state-owned China FAW Group rose 23% in the January to September period to 1.05m units, according to media reports.
 

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China's FAW Car Q3 net profit 358.29 mln yuan on lower costs

BEIJING (XFN-ASIA) - China's FAW Car Co Ltd (SZA 000800), a subsidiary of the country's largest automaker First Automotive Works (FAW) Group Corp, said net profit surged to 358.29 mln yuan in the third quarter, up 56.7 pct year-on-year, mainly due to lower costs.

Operating costs in the third quarter totaled 2.74 bln yuan, down 30.4 pct year-on-year, while operating revenue rose 44.2 pct year-on-year to 3.75 bln yuan.

http://www.forbes.com/afxnewslimited/feeds/afx/2007/10/28/afx4270893.html
 

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FAW posts net profit of $1.67 billion.

December 26, 2007 – The First Automotive Works (FAW), one of China’s Big Three automakers, has posted a net profit of RMB 12.3 billion ($1.67 billion) this year, up 252 percent year-on-year, China state new agency Xinhua reported today.

By December 25, FAW has sold a total amount of 1.43 million vehicles, including all commercial and passenger vehicles, an increase of 23 percent from one year earlier. The Auto Group’s total revenue this year has reached RMB 188 billion ($25.57 B), a growth of 26.5 percent from one year earlier, the report said.

The reduction of production costs have contributed to the growth of net profits, the report said. FAW has cut off RMB 3 billion ($408 million) in production costs this year.

The FAW Group has three major production units in China: Tianjin FAW Xiali Automobile Co, located in Tianjin, has a capacity of 200,000 vehicles, where Charade N3, Charade, Vizi, Vela, Dario Terios and Move are produced.

FAW Haima Automobile Co, located in Hainan province, has a capacity of 150,000 units, where Mazda Pharmacy and Family are produced; and FAW Cars Co, located in Changchun of Jilin province, has a capacity of 120,000 units, where Red Flag, Mazda 6 and Besturn are produced.

FAW-Toyota has two production units in Tianjin. The first plant has a capacity of 120,000 units, producing Corolla and Vios vehicles and the second plant has a capacity of 100,000 units, producing Crown and Reiz vehicles.

The FAW-Toyota joint venture opened a third plant in Tianjin in May with annual capacity of 200,000 units. Its total capacity in Tianjin rose to 420,000 units in 2007.

With the launch of Sagitar, Magotan and C class Audi this year, FAW-VW sold 427,950 vehicles in the first 11 months this year, up 41.2 percent from one year earlier.
source: Gasgoo.com
 

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FAW Group posts 23% growth in sales volume

FAW Group posts 23% growth in sales volume
(Xinhua)
Updated: 2008-01-14 15:14


China First Automotive Works (FAW) Group, one of the country's major auto makers, produced 1.47 million motor vehicles last year and sold 1.44 million, company sources said on Monday.

Sales were 23.2 percent higher than in 2006.

The sales volume included 1.19 million cars, up 23.1 percent, 155,000 heavy-duty and mid-sized trucks, up 26.6 percent, and 77,000 light trucks, up 18.4 percent.

The sources said last year saw FAW Group sell 620,000 motor vehicles under its own brands, up 12.8 percent. This total included 28,800 units exported, up 44 percent, with a value of $387 million, up 100.7 percent.

Auto sales by FAW Group's joint ventures, including one with Germany's Volkswagen and another with Japan's Toyota, grew 32.4 percent to 816,000 vehicles, or 56.8 percent of the group's total annual vehicle sales.

In terms of vehicles with foreign brand names, the group sold 366,000 Volkwagen cars, up 38.7 percent, 92,000 Audi cars, up 19.4 percent, and 287,259 Toyota cars, up 28.2 percent.

http://www.chinadaily.com.cn/bizchina/2008-01/14/content_6392827.htm
 

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FAW Group Corp auto sales up 46.9% in January
(Agencies)
Updated: 2008-02-18 16:27


FAW Group Corp, one of China's largest automakers, said it sold 166,518 vehicles in January, a rise of 46.9 percent year-on-year.

It said sedan sales rose 58.3 percent to 146,294 units while sales of medium and heavy-duty trucks grew 11.6 percent to 11,263.

The automaker said that FAW VW, its 50-50 sedan joint venture with Volkswagen AG, sold 65,709 cars in January, a surge of 104.8 percent from a year earlier.

Tianjin FAW Toyota Motor, its joint venture with Toyota Motor Corp, sold 34,139 cars last year, up 69.8 percent, it added.

http://www.chinadaily.com.cn/bizchina/2008-02/18/content_6463603.htm
 

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In teh beginning of March the delegation of FAW visited Serbian auto manufacturer Zastava-Yugo. Members of the delegation inspected assembly lines and potentials of the factory in the city of Kraguljevac and promised that this visit is only the beginning of the cooperation bertween two companies.
Zastava-Yugo is currently in the hands of serbian government which plans to sell it to highest bidder in the near future. One of other possible candidates for purchase is Italian FIAT. But many other prominent names have been subject of speculations also.
Chinese will also visit Serbian truck manufacturer FAP which is also in the process of privatisation.

source: Auto.blog.co.yu
 

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China's FAW Car 2007 net profit doubles on higher sales.

April 02, 2008 - China's FAW Car Co Ltd (SZA 000800), a subsidiary of the country's largest automaker First Automotive Works (FAW) Group Corp, said its net profit doubled to 552.87 mln yuan in 2007 from 276.53 mln yuan in the previous year on the back of higher sales.

The company said it sold more than 80,000 cars in 2007, up 40 pct from a year earlier, with total revenue up 21.72 pct at 13.62 bln yuan.

Earnings per share stood at 0.34 yuan last year, up from 0.21 in 2006.

It added that it will increase its investment in FAW Finance Co Ltd by 231.39 mln yuan to boost the finance company's total registered capital. FAW Car owns 20.7 pct in the finance company.

FAW Car's board also approved a proposal to invest 575 mln yuan to upgrade a current assembly facility.
source: XFN-ASIA
 

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China's FAW Car saw losses in own brand sales.

April 9, 2008 - FAW Car Co, a unit of the China's largest automaker First Automotive Works (FAW) Group Corp., said that its two major own brand models, Besturn and Red Flag, lost a total of RMB 200 million ($28.5 million) last year, local news paper Beijing Morning News reported yesterday.

The company announced that its net profit doubled to RMB 552.87 million in 2007 from RMB 276.53 million in the previous year, but this profit was not generated by its own three vehicle brands. Own brand passenger car model Besturn and Red Flag lost RMB 150 million and RMB 50 million respectively in 2007.

Mazda6 is the only profitable model of the automaker, with net profit rising 37.5% from a year earlier to RMB 47.8 million.

In an effort to reverse the slumping of demands for its models, FAW Car Co plans spend RMB 2.1 billion this year in three projects to boost its capacity and competitiveness, and more than 70 percent of the total investment will be injected into developing own brand vehicles.

The company will first invest RMB 821 million in developing a new own-brand car based on its Besturn platform, it said in a filing with Shenzhen Stock Exchange on April 2, cited by Bloomberg news.

It will spend RMB 575 million supporting production of the revamped Mazda6. It aims to build 60,000 revamped Mazda6s by the end of the year, it added.

Construction of the RMB 695 million engine plant, with an annual capacity of 90,000 units, is likely to take 18 months, the Changchun-based carmaker said. This plant will be used to develop self made engines.
source: Gasgoo.com
 
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