Domestic carmakers come into their own
The story is part of an ongoing series on the development of China's automobile industry during the 13th Five-Year Plan (2016-20).It focuses on the development of Chinese automakers in that time.
Driven by a new development strategy, FAW's Hongqi increased sales recently. It sold more than 178,100 vehicles in the first 11 months this year.
The automaker has had monthly sales exceeding 20,000 vehicles for four consecutive months, indicating rising demand.
In July this year, Dongfeng launched its new brand Voyah in Wuhan, focusing on producing high-end new energy passenger vehicles.
Its first production model, an electric SUV based on its iFree concept, is expected to hit the market in 2021.
Based on the automaker's plan, starting in 2021, Voyah will launch at least one model a year and have offerings in segments including sedans, SUVs and MPVs in five years.
In a more open environment of investment and competition in China, the country's top-tier automobile companies have been deeply involved in the layout and cooperation of the global automobile industry chain, and have even become an active driver in the reform of the automobile industry worldwide.
In the past five years, Geely became Daimler's largest shareholder; Great Wall Motors established a joint venture with BMW; and BYD launched technical cooperation with Toyota in the field of new energy vehicles.
Meanwhile, with the introduction of high-end products from Chinese automakers' new brands, including Lynk & Co by Geely and WEY by Great Wall Motors, Chinese automaker's capability to compete with Sino-foreign joint-venture brands has improved.
Although the SUV market has seen a decline in production and sales since 2018, Chinese auto brands have secured a favorable market share.
Among the top 10 SUV brands in terms of sales, Great Wall Motors' Haval and SAIC's Roewe are regulars on the list.