[FAW Model] Weizhi V2 sedan ($10,317)
FAW launches self-made sedan Weizhi V2
First Auto Works (FAW) launched at the Chengdu Auto Show on September 18 its new self-developed sedan, Weizhi V2, also its first economy car after releasing a new brand strategy in April, National Business Daily reported Monday.
The Weizhi V2 comes with a VCT-I engine, delivering maximum power of 91 hp and paired with both a 5-speed manual transmission (MT) and an automatic transmission (AT). The new car aims at young consumers and is expected to be sold at 70,000 yuan ($10,317).
FAW has earlier adjusted its brand architecture. The five own brands, including FAW Red Flag, FAW Besturn, Tianjin FAW and FAW minibus are now under its brand of China FAW Group Corporation.
FAW Weizhi V2 will target China’s first-tier cities, through which the automaker tries to turn the tables on expansion of the Xiali and Weizhi brand in the second- and third-tier cities.
FAW Tianjin Xiali Automobile Co., Ltd., a subsidiary of FAW, plans to boost auto output and sales both to 600,000 vehicles by 2015, its general manager Wang Gang revealed on the same day.