Hongqi, the premium arm of China FAW Group, said Tuesday its sales in the first two months this year reached 63,800 units, up 40 percent from the same period last year.

The performance is way above the industry's average single-digit growth rate.

As China's oldest premium automotive marque, Hongqi expects its sales to hit 450,000 to 500,000 units in 2022.

Even if Hongqi sales hit the lower range of the target, that would mark a 50 percent rise from its deliveries of 300,000 units in 2021.

The upper range of 500,000 stands for a 66.7 percent rise year-on-year.

Hongqi has seen its sales grow rapidly over the past few years thanks to its growing number of models and increased popularity among the younger generation.

Last year, it ranked fifth in terms of sales in China's premium vehicle market after BMW, Mercedes-Benz, Audi and Tesla.

Its cumulative deliveries across the country have exceeded 600,000 units, said Hongqi.