AutoBeta(AutoBeta.net)11/02 Report--

On November 2nd, Great Wall Motor announced its production and sales of KuaiBao in October. Data show that Great Wall car sales in October were 116800, down 11.05% from a year earlier, of which 32000 were new energy vehicles and 44400 were overseas. From January to October this year, Great Wall vehicle sales totaled 970600, down 2.49% from a year earlier. Among them, new energy vehicle sales were 243500 and overseas sales were 368700. Based on the annual sales target of 1.6 million Great Wall vehicles, the completion rate was 60.66 per cent by the end of October.

So far, Great Wall has five major car brands, of which the passenger car market includes Harvard, Tank, Euler and Wei Brand. According to the latest sales figures of Great Wall, only Wei Brand achieved year-on-year growth in October, surging 187.50% to 6486 vehicles, with cumulative sales of 38900 vehicles, up 10.36% from a year earlier.

Although Wei brand increased significantly in October, it made little contribution to the total sales of Great Wall, accounting for only 5.55% of the total sales. Wei Brand is the first high-end brand launched by Great Wall, and its models for sale include Mocha / Mocha DHT-PHEV, Latte DHT/ Latte DHT-PHEV, Macchiato DHT/ Macchidot DHT-PHEV and Blue Mountain DHT-PHEV, of which Blue Mountain is the main source of sales. Take September retail sales as an example, Wei Brand sold 6345 vehicles, of which Blue Mountain accounted for 6019. For Wei Brand, there is only one volume model in Blue Mountain, and it still needs to launch more products with fashion potential in order to boost sales.

The Harvard brand remains the most important sales pillar of Great Wall, with sales of 72700 vehicles in October, accounting for 62.22% of total sales, down 7.65% from a year earlier, while cumulative sales in the first 10 months were 544400, down 5.25% from a year earlier. Industry insiders believe that the decline in sales of the Harvard brand is related to the fierce competition in the current car market. At present, the Harvard brand is speeding up the launch of new cars. On September 25, the new generation of Harvard H9 launched a total of three models with a price range of 19.99-229900 yuan. As a new replacement model, the new car greatly revolutionizes the appearance and interior, and lengthens the body size to provide 2.0T gasoline and 2.4T diesel engine. On October 21, the new Harvard H7, a medium-sized SUV under the Harvard brand, appeared in the Ministry of Industry and Information Technology declaration catalog. it is understood that the car is a modified model of the Harvard owl dragon MAX, built with the latest generation design language of the Harvard brand, and is powered by a 1.5T engine model GW4B15H, with a maximum power of 85 kilowatts.

For other brands, tank brand sales fell 13.49 per cent in October from a year earlier to 19100, with cumulative sales of 188900 vehicles this year, an increase of 49.18 per cent year-on-year. For comparison, in the past July to September, tank brand sales increased by 38.49%, 11.42% and 3.80%, respectively. At present, tank brands sell models including tank 300, tank 400, tank 500 and tank 700, of which tank 300 is the main selling model.

The performance of the Euler brand in October was also mediocre, falling 48.64 per cent year-on-year to 5560 vehicles, with cumulative sales of 52700 vehicles, down 40.40 per cent year-on-year. At present, the models on sale under the Euler brand include Euler cats, ballet cats and lightning cats. Among them, Euler cats are the volume models. In September, for example, retail sales of Euler cats are 3700, while lightning cats and ballet cats are 160,150 respectively.

At present, Great Wall Motor is in a critical stage of new energy transformation, with the launch of more new energy models, it is expected to bring significant growth to its sales. At the same time, Great Wall Motor is also accelerating the promotion of overseas markets. It is understood that a number of models, including the Ola good Cat, Harvard H6 HEV and Tank 500 HEV, have been listed in a number of overseas markets, and overseas markets are expected to become a new growth point of Great Wall car sales.

On October 25th, Great Wall released its results for the first three and third quarters of 2024. According to the financial report, in the first three quarters of 2024, Great Wall Motor's cumulative operating income was 142.253 billion yuan, up 19.04 percent over the same period last year; net profit was 10.428 billion yuan, up 108.78 percent over the same period last year; and net profit excluding non-recurring profits and losses was 8.374 billion yuan, up 119.93 percent over the same period last year.

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