AutoBeta(AutoBeta.net)10/11 Report--

On October 11th, Great Wall Automobile released its latest production and marketing KuaiBao. Great Wall car sales fell 6.38 per cent in September from a year earlier to 93600, and cumulative sales in the first three quarters fell 9.25 per cent to 802300 vehicles, according to the data. According to the annual sales target of 1.9 million vehicles announced by Great Wall Motor, only 42.26% of the target was achieved by the end of September. To meet its full-year target, Great Wall needs to sell 1.1 million vehicles in the last three months, an almost impossible task.

Many car companies can show much higher market performance than usual in the "Golden Nine and Silver 10", but the market performance of Great Wall Automobile is obviously abnormal. Only its tank brands have achieved year-on-year growth, while Harvard, Euler and Wei brands have all declined compared with the same period last year. Among them, the decline of Wei brand is as high as 49.51%, while that of Euler is 40.45%.

Great Wall has five brands, including Harvard, Wei Brand, Great Wall pickup, Euler and Tank. According to the data released by Great Wall Motor, except for the tank brand, all other brands declined to varying degrees in September, among which the Harvard brand, as the sales pillar of Great Wall, is also the weather vane of its sales trend. sales accounted for more than half of its overall sales. Although it fell slightly by 1.10% year-on-year in September, it fell 16.42% in the first three quarters, making it the biggest decline under Great Wall.

Driven by the halving of purchase tax, sales of the Harvard brand improved in July and August, with a year-on-year increase of 7.14% in July and 24.26% in August, but even so, compared with the peak record of 80,000 units sold by the H6 in that month, it's hard to hide the decline. In addition to the above purchase tax impact, in fact, the greater impact is the strategic transformation and product consumption.

On the evening of August 22, the Great Wall Harvard brand held a new energy vehicle strategy conference, officially announced the start of new energy transformation. Mu Feng, president of Great Wall Motor, said that this is the most determined step in the transformation of Great Wall Motor into new energy vehicles, marking the full implementation of Great Wall Automobile's new energy strategy, which is expected to account for 80 percent of Great Wall cars' new energy sales by 2025. The Harvard brand will officially stop selling fuel vehicles by 2030. On the same day, Harvard H6 launched DHT hybrid version and DHT-PHEV plug-in hybrid version, in which Harvard H6 DHT sells for 149800 yuan and Harvard H6 DHT-PHEV sells for 15.98-173800 yuan.

In addition, the stall of the Harvard brand is also related to the product layout. Prior to this, the Harvard brand built a number of new SUV based on the Great Wall lemon platform, including Red Rabbit, Immortal Beast, Big Dog, KuGou, etc., but these models are very close in terms of price and positioning, which inevitably leads to "cannibalism", which affects the market performance of Harvard H6.

At the same time, Harvard brand products are prone to defects, which is also one of the factors affecting market performance. In August this year, the model with the most complaints about passenger cars in China was the Harvard F7. As a standard "remote control function", it was necessary to pay for a package to use it, causing dissatisfaction among many car owners. In September, a number of car owners complained about blistering paint and rust on their first love models, which had just been bought for a few months, and the solution for manufacturers and 4S stores was to repaint. However, car owners are worried about re-painting the symptoms but not the root of the problem, that the new car paint drum bag is a quality problem, manufacturers should extend the warranty, and give corresponding compensation. So far, the authorities have not yet given a solution approved by car owners.

As a high-end brand owned by Great Wall, the performance of Wei Pai is hard to compliment. Data show that Wei brand sales in September were only 2354, down 49.51% from the same period last year; the cumulative sales in the first three quarters were only 30500, down 15.75% from the same period last year; not long ago, Wei brand CEO Li Ruifeng "fired" at the added program technology represented by ideal and Huawei, which attracted industry attention, thus indirectly driving Wei brand sales, but at present, the Wei brand model with a mixture of Great Wall lemon DHT is not what Li Ruifeng wanted. According to the data, Selis sold 10100 vehicles in September, up 598.00% from a year earlier, while ideal car sales were 11500, up 62.5% from a year earlier.

In addition to being inferior to its competitors in the plug-in market, the same is true in the pure electricity market. As the only pure electric brand under Great Wall, Euler sold 7600 vehicles in September, down 40.45% from a year earlier, and sold 84700 vehicles in the first three quarters, only at the same level as last year. Prior to this, Euler won the favor of many female car owners in the market by relying on two low-cost models, black cat and white cat. However, due to cost pressure, Euler stopped production of two models, coupled with the previous good cat model "change core door" incident, so that the performance of the Euler brand in the market continues to shrink. On July 12, Euler Ballet Cat officially went on sale, with a subsidised price range of 19.30 yuan to 223000 yuan. The model was not recognized by female consumers because the price was obviously too high. It is understood that Euler Lightning Cat will be officially launched on October 27, the new car positioning pure electric medium-sized coupe, but the price is also expected to be expensive.

Compared with Harvard, Wei Pai and Euler, the performance of tank brands is very eye-catching. According to the data, tank brand sales in September were 12600, up 57.24% from the same period last year; in the first three quarters, there were 89200, up 69.65% over the same period last year; whether monthly sales or annual sales, the performance of tank brands is significantly better than that of other brands. At present, tank brand products include tank 300 and tank 500 models, of which tank 300 is the main sales model of tank brand, accounting for more than 85% of the total sales of tank brand. In the future, tank brand will also launch tank 400, tank 700 and other models.

Some people in the industry believe that the lack of innovation and product power, over-reliance on the Harvard brand, the slow transformation of new energy, and the difficulty of low-end products to withstand the market reshuffle are all problems to be solved by Great Wall Motor. However, some brokers commented that although Great Wall Motor is under short-term pressure due to factors such as downsizing and costs, its gross profit margin is bright, and sales performance is expected to take a turn for the better as the pace of new product launches is expected to accelerate.

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