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China FAW adjusts Red Flag Marketing Management system

2024-03-04 Update From: AutoBeta autobeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)09/20 Report--

On the evening of September 19th, China FAW officially announced that in order to strengthen the core functions of the enterprise and accelerate the promotion of its core competitiveness, starting from the red flag business development strategy and focusing on the needs of the "All in" new energy strategy based on the red flag, FAW recently strengthened the marketing management system of the red flag brand, integrating some institutions and functions of the marketing innovation institute, the marketing center and the new energy marketing center. Become a brand-new marketing center, deeply match the enterprise strategy, and enhance the cooperative combat ability of the red flag brand marketing system.

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China FAW pointed out that this adjustment is a deep integration of China FAW marketing business, resources and capabilities. In fact, as early as 2018, China FAW issued the new red flag new energy strategy, and set up a new energy research institute the following year to prepare technology and products. Last year, based on the high-end electric intelligence super architecture FMEs, FAW Hongqi created three major technology platforms: HME electric platform, HIS intelligent platform and HMP hybrid platform.

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In January this year, the "Red Flag New Energy vehicle Global Strategy Conference" was held in Guangzhou. At the press conference, in addition to improving the overall brand structure of Red Flag, Red Flag announced "All in" new energy, promoting the electrification of all models throughout the country. Under the main brand of "Red Flag", there are four sub-brands: new energy vehicles, energy-efficient vehicles, Red Flag top cars and super sports cars.

Among them, Hongqi New Energy brand adopts a new logo, and plans to launch 15 new energy smart products in high frequency in the next three years, covering all market segments of A, B, C, D cars, SUV and MPV respectively. On the day of the press conference, Red Flag New Energy Family launched three products: new Red Flag Sedan EV (product code E001), New Red Flag SUV EV (product code E202) and New Red Flag E-LS (product code E809). Among them, the New Red Flag Sedan EV is the first pure electric medium-sized car developed by the FMEs platform, and it is also the first model of Red Flag New Energy; the New Red Flag SUV EV is the pure electric medium-sized SUV; born on the same architecture, while the New Red Flag E-LS is the new energy flagship SUV based on the New Red Flag L platform.

Up to now, the existing products of Hongqi brand include two major product systems: car family and SUV family, covering the middle and high-end market of 15-700000 yuan. Like most traditional car companies, the transformation of red flag cars into new energy is also a mixture of pure electricity and gas-electricity. In terms of pure electric models, Hongqi has launched three pure electric models: E-HS3, E-HS9 and E-QM5.

Although the Red Flag brand began to lay out the new energy strategy in 2018, the performance of Red Flag in new energy is very mediocre. Data show that FAW Hongqi sold a total of 208512 vehicles from January to August this year, of which 30087 were sold in August. Among the model segments, the E-QM5 sold 6045 vehicles in August, compared with 610 for the E-HS9.

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At the end of last month, the post of chairman of FAW, which had been vacant for nearly half a year, ushered in a new appointment. Qiu Xiandong was appointed chairman and party committee secretary of China first Automobile Group Co., Ltd. As Xu Liuping's successor, "how to develop the Red Flag" will also become an important task for Qiu Xiandong. Prior to this, Qiu Xiandong made it clear that from this year, China FAW will firmly promote the All in new energy strategy, strive for the transformation of new energy vehicles, and accelerate the layout of new energy products. This year, Hongqi will launch two pure electric models, E001 and E202, and will launch a total of 11 pure electric models and 11 plug-in hybrid models by 2028, achieving full coverage of A-class to D-class sedan SUV, MPV and other market segments.

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According to the plan, by 2025, the target sales of the Red Flag brand will exceed 1 million, and the sales of new energy vehicles will be 500000. By 2030, the target sales of the Red Flag brand will exceed 1.5 million, and new energy vehicles will become the main body of sales. However, compared with BYD, which has already All in new energy, Red Flag sales still rely on fuel vehicles. It should be noted that with the intensification of competition in the car market and the reshuffle of the new energy track is inevitable, in this context, there will not be too much time for the Red Flag brand. As for China's FAW to adjust the red flag marketing management system, how the red flag brand innovation, we might as well wait and see.

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