Automobile Industry

In terms of the pattern of China's domestic automobile industry, whether from the perspective of economies of scale, or the pull of various related industries, or in the image of the large country automobile industry, we need a large group of millions of vehicles. Ford of the United States, Volkswagen of Germany, Toyota of Japan and Hyundai of South Korea have all taken the lead in breaking through one million cars on behalf of the country's automobile industry, and now the historical responsibility of breaking through one million cars naturally falls on the shoulders of the "eldest son of the Republic" - FAW Group.
In 2004, FAW Group's 1 millionth car rolled off the production line, of which 50% were self-owned brands, and 10,000 self-owned brand cars were exported. This means that after China Automobile spent its 50th birthday in 2003, in 2004, FAW, as the "eldest son of the Republic", finally grew into China's first annual production and sales of "million" level automobile group.

On the significance of realizing "one million cars" for FAW Group, FAW General manager Zhu Yanfeng concluded: "The breakthrough of one million cars will effectively enhance the brand value and market recognition of the" first car, first partner ", and will realize the pursuit and dream of FAW generations of entrepreneurs and builders. The breakthrough of one million units will create a scale platform for FAW's rapid output and efficiency improvement, and lay a foundation of confidence for our suppliers, dealers and international partners to further strengthen and expand cooperation with FAW."
Automobile industry refers to the manufacture and sale of automobiles. In 2008, China's automobile industry encountered a severe test rarely seen in recent years, and the internal and external development environment was ups and downs. Heavy natural disasters have occurred one after another, the macro-economy has slowed down in the regulation and control, and the subprime mortgage crisis in the United States has become increasingly fierce, which have had a certain impact on the domestic automobile industry. Nevertheless, the auto industry has maintained some growth, but the growth rate is significantly slower than in previous years and much lower than expected at the beginning of the year; The ultra-high growth momentum of exports is no longer, and the annual growth rate is expected to fall by half; Industry benefit growth declined, relying on sales to boost profit growth more difficult, the growth of the domestic auto industry slowed down significantly.