AutoBeta(AutoBeta.net)08/04 Report--

On August 1st, Great Wall Motor announced its July production and sales KuaiBao. Data show that Great Wall car sales in July were 91300, down 16.32% from a year earlier, the third consecutive month of year-on-year decline. Sales totaled 651000 vehicles from January to July, an increase of 3.60% over the same period last year. Among them, overseas sales of 38200 vehicles in July, January-July cumulative sales of 239700 vehicles. New energy vehicles sold 24100 units in July, with a cumulative sales volume of 156500 from January to July. Compared with the annual sales target of 1.6 million vehicles set at the beginning of the year, Great Wall achieved only 40%, which is more difficult to achieve.

Compared with mainstream automakers, such as BYD, Chery and Geely, all achieved year-on-year growth, including 31% year-on-year growth in BYD, 13% year-on-year growth in Geely, and 20% year-on-year growth in Chery. Great Wall Motor is the only private automaker known to have experienced a year-on-year decline in sales for three consecutive months, and the sales growth rate in the first seven months is also much lower than that of other manufacturers.

As in June, only tanks grew in July under the flag of Great Wall, while Harvard, Euler, Wei Brand and Great Wall all declined year-on-year, especially Wei Brand and Euler halved directly.

The tank brand is the only brand that has achieved growth and skyrocketed, with sales rising 38.49 per cent year-on-year to 18700 vehicles in July and 87.59 per cent to 134700 from January to July. Different from other brands, the model performance of the tank brand is more balanced. At present, the models on sale include tank 300,400,500,700, of which tank 300 is the main selling model, with cumulative sales of 41800 in the first six months, followed by tank 500 Hi-T and tank 400 Hi-T, 20200 and 19500.

It is worth mentioning that on July 16, the tank brand announced that the tank factory in Chongqing will stop production from July 23 to July 31, the tank Xushui plant will stop production from July 24 to July 31, and the tank Jingmen plant will stop production from July 25 to July 31. The tank brand said, "the temperature continues to rise in summer. In order to effectively ensure production safety and ensure the stable operation of equipment, it is planned to carry out safety inspection and overhaul of tank factory equipment in late July 2024." Perhaps, had it not been for the high temperature shutdown, sales of the tank brand would have been higher, up 104.02% in June from a year earlier.

Wei Brand was the worst, with monthly sales still at 2000, at 2765, down 58.43 per cent from a year earlier. It is understood that there are only three models of Wei Brand on sale, namely Blue Mountain, Alpine and Mocha, whose main source of sales is Blue Mountain. This medium-and large-scale SUV has accumulated sales of 13711 vehicles in the first half of the year. On August 2, Great Wall announced that the new Blue Mountain has officially opened its pre-order, with the pre-sale price of 308800 yuan for the Max version and 335800 yuan for the Ultra version.

As for the Euler brand, it also halved, with sales of 4780 vehicles in July, down 52.75% from a year earlier. At present, there are only three models on sale under the Euler brand: good Cat, Ballet Cat and Lightning Cat. No new car has been launched since 2023, and the overall sales are still borne by Euler Cat. Its cumulative sales in the first half of the year were 21968, Lightning Cat was only 1500, and Ballet Cat was 719.

The Harvard brand is not only the sales pillar of Great Wall, but also the weather vane of Great Wall, accounting for more than half of its total sales. The Harvard brand sold 52900 vehicles in July, down 15.92% from a year earlier, according to the data. Great Wall did not disclose specific model sales, according to the previous sales trend, the Harvard brand's top-selling model is still the Harvard H6, the new generation of Harvard H6 went on sale on June 19, with a price range of 11.79 yuan to 143900 yuan. It is understood that this is the fourth generation of Harvard H6 since its birth, the new generation of Harvard H6 based on the Great Wall lemon platform, using a new appearance and interior design.

Great Wall, which is in the critical stage of new energy transformation, with the introduction of more and more new energy models, the existence of its domestic new energy vehicle market is getting stronger and stronger. Data show that a total of 156500 new energy vehicles were sold from January to July in 2024, of which 24100 were sold in July.

At the same time, Great Wall Motor is also accelerating the promotion of overseas markets. Data show that Great Wall Motor sold 239700 vehicles overseas from January to July in 2024, of which 38200 were sold in July. It is understood that, including Ola good cat, Hafer H6 HEV and tank 500 HEV and other models, listed in Brazil, Vietnam, Indonesia and other overseas markets. With the expansion of overseas business, the overseas market is also expected to become a new growth point of Great Wall automobile sales.

Earlier, Great Wall issued a forecast of half-yearly results for 2024. According to the financial report, the net profit attributed to shareholders of listed companies in the first half of the year is expected to be 6.5 billion yuan to 7.3 billion yuan, an increase of 377.49% to 436.26% over the same period last year; net profit after deducting non-recurring profits and losses is 5 billion yuan to 6 billion yuan, an increase of 567.13% to 700.56%.

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