FAW Group Corporation (FAW) ranked 20th in 2021 top 500 Chinese enterprises and 5th in 2021 top 500 Chinese manufacturing enterprises respectively, according to the lists released at 2021 China Top 500 Chinese Enterprises Summit held on Sep 25, in Changchun, the provincial capital of Jilin province.
The lists have demonstrated a sound development trend of China top 500 Chinese enterprises, with sustained operation growth, better efficiency and performance, stronger innovation capacities, and optimzed industrial structures.
Last year, FAW overcomed the adverse impacts of the COVID-19 epidemic and the overall trend of market downward, and achieved new progress in business operation and development.
FAW’s total sales in 2020 grew by 7.1 percent to 3.706 million units, outpacing 9% compared with growth rate of Chinese auto industry. FAW has become the only enterprise of automakers that growing at a fast pace in sales, incomes, and profits, with its market share stood at 14.6 percent, a 1.2 percent increase from a year earlier.
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.