FAW V2 has been officially discontinued in China, however the hatchback will continue to be sold in export markets.
Officially launched in 2010, the 1.3L V2 sold extremely well in its initial years in China. The highest sales were reported in year 2011 when some 27,127 units of V2 were sold however towards 2016, the annual sales of V2 were just around 1,000 units.
Known as a derivative of 1st generation Toyota Vitz, the V2 was actually based on Toyota’s NBC (New Basic Car) platform and its development dates back to 2008. Its first appearance in sedan form was at the 2008 Beijing Auto Show when the car was displayed as concept under the codename TFC-M1.
By 2009, the car was already spotted testing on Chinese soil in both sedan & hatchback forms, with sedan designated as V2, while the hatchback called as V1. However later FAW decided to altogether ditch the V2 sedan and rename the V1 hatchback as the V2.
In 2010, FAW released the first official pictures of the V2 hatchback. The car made its debut at the 2010 Chengdu Auto Show and was officially launched soon after.
There is no immediate replacement for the V2 hatchback in China as of now, however the V5 sedan, which is based on the same NBC platform and does reasonably well in Chinese as well as export markets, will continue to be sold. FAW however will continue to sell the V2 hatchback in the international markets including Pakistan.