Xinhua Silk Road: China's Hongqi vehicle sales skyrockets under new brand strategy
BEIJING, Aug. 30, 2019 /PRNewswire/ -- Hongqi, a leading luxury car marque in China, has been growing with surging sales since its new brand strategy was released last year.
According to statistics, sales of Hongqi amounted to 42,000 vehicles between January and July, soaring 328.9 percent year on year, and it jumped 190 percent year on year in July.
The sale boom is mainly attributed to Hongqi's transformation and upgrading involving branding, product innovation and marketing networks.
Dedicated to becoming the No.1 luxury auto brand in China and one of the renowned brands across the world, Hongqi seeks to sell 100,000 vehicles by 2020, 300,000 vehicles by 2025, and 500,000 vehicles by 2035, according to the New Hongqi Brand Strategy.
Also, targeting at new energy vehicle and intelligent connected vehicle markets, the brand will step up R&D efforts to launch 45 models and make breakthroughs in 18 new technologies by 2030 to further improve its product portfolio, which includes the environmentally-friendly intelligent package R.Flag.
To expand market reach at home and abroad, Hongqi has cooperated with institutions owning rich IP resources such as The Palace Museum and China Central Television, made its debut at the Consumer Electronics Show (CES) 2019, and hosted international auto festivals since the start of this year. The brand has also taken advantage of social media platforms and key influencers to increase interactions with users in digital technology, literature, arts, films and tourism circles, thus gaining greater recognition.
In particular, by launching stylish hats, backpacks, and apparel in partnership with Chinese sports brand Li-Ning, the once only for high-ranking government officials auto marque is making closer connections with young people.
Hongqi, meaning "red flag", is China's iconic sedan brand. The brand was established in 1958 and has been used as the vehicle for parades at national celebrations.
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