AutoBeta(AutoBeta.net)04/03 Report--

On April 1st, Great Wall released March production and sales figures. Data show that in March 2024, Great Wall car sales were 100276, up 11.02% from a year earlier. The cumulative sales from January to March were 275333, up 25.11% from a year earlier.

At present, Great Wall has five major car brands, among which the passenger car market includes Harvard, tank, Euler and Wei Brand. Among them, the Harvard brand is the sales pillar of Great Wall, accounting for more than half of the total sales.

According to the sales volume of the major brands in March, Wei Brand still had the highest growth rate in March, up 182.98% over the same period last year, while the Euler brand showed an obvious downward trend, down 37.37% from the same period last year.

First, let's take a look at the Euler brand. As the only pure electric brand under Great Wall, sales of the Euler brand in March were 6022, down 37.37% from a year earlier. The cumulative sales from January to March were 15029, down 15.41% from a year earlier. In August 2018, Great Wall launched the Euler brand, which is officially defined as a "more womanly new energy vehicle". Its models focus on the consumer needs of female users, including discontinued black and white cats. However, since the suspension of the two models, Euler's overall sales source has been maintained only by Euler's good cats. Since 2023, the Euler brand has not launched a new car, and the models currently on sale include Euler Cat, Ballet Cat and Lightning Cat. Among them, due to the small size of Ballet Cat and Lightning Cat, the performance of the car market is average. Take February retail sales as an example, Euler cat, lightning cat and ballet cat models sold 1731, 201,74 respectively.

In contrast, the sales volume of Wei Brand has increased significantly since the launch of the Blue Mountain model. Data show that Wei brand sales in March were 3608, up 182.98 per cent from a year earlier. At present, Wei brand models on sale include Blue Mountain, Alpine, Mocha, latte and so on. Combined with the previous February sales, the vast majority of Wei brand sales come from Wei brand Lanshan. From January to February, the cumulative sales of Wei brand was 6000, of which Blue Mountain accounted for 4193, accounting for 69.88% of the total sales of Wei brand.

Judging from the cumulative sales from January to March, although Wei Brand increased by 182.34% year-on-year to 9608 vehicles, its position in the car market is far lower than that of the Harvard brand and the tank brand.

The Harvard brand sold 54055 vehicles in March, up 13.99 per cent from a year earlier, accounting for 53.91 per cent of total sales and remains a go-volume model of Great Wall; sales in the first three months of 2023 were 157889, up 25.53 per cent from a year earlier. At present, Harvard's models for sale include H5, H6, H9 and M6 of the Harvard alphabet series, Hafer Dogs of the dog series, Haver II Big Dogs and Haverku Dogs, and Haver Owl / Owl Dragon MAX, Harvard Raptors, as well as Harvard Red Rabbit and Harvard Beast models. Among them, Harvard H6, Harvard Dog and Harvard Raptor are the main sales sources of the Harvard brand, with retail sales of 10848, 5451 and 2003 respectively in February.

Finally, let's take a look at the tank brand. March sales were 18953, an increase of 58.60% over the same period last year. The cumulative sales from January to March were 49184, an increase of 103.16%. At present, there are five models for sale under the tank brand. Among them, Tank 330was launched on March 16th and was developed based on the limited edition of Tank 300. the power is equipped with 3.0T V6 twin-turbocharged engine, which matches the 9AT gearbox and sells for 330000 yuan.

Although the tank brand has laid out five models, for tanks, its main sales still rely on the tank 300, a popular model, which also means that "how to improve product strength and sales" is a topic that tank brands have to face. According to the plan, the Hi4-T upgrade version of the tank will be released on March 18, and the new car will upgrade the core parts such as the engine, four-wheel drive system and engine system respectively.

Overall, Great Wall Motor grew 25.11% in the first three months of this year compared with the same period last year. It should be noted that the car market in 2024 is doomed to fierce competition, while China's independent brands are rising strongly, and Great Wall, as one of its own brands, is bound to face more fierce competition for market share. As the support of Great Wall, although the Harvard brand products are not small, but the year-on-year growth has slowed in recent years, now, in the context of more and more homogenized products, the Harvard brand needs to narrow the product line and launch products that are more recognized by consumers.

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