Long-term strategic achievements began to show that Great Wall Motor sold more than 860,000 vehicles in the first three quarters, achieving a step-by-step growth.

Transfer from: China Business Network.

Our reporter Yin Limei Tong Haihua reports from Beijing.

(601633.SH) In September this year, it sold 121,600 new cars, a year-on-year increase of 29.89%. From January to September this year, it sold a total of 864,000 new cars. On the evening of October 8, Great Wall Motor disclosed the above data.

"China Business News" reporter noted that the sales volume of Great Wall Motor in the first three quarters of 2023 "jumped three times in a row", achieving a step-by-step growth. In the first quarter, Great Wall Motor sold 220,000 vehicles; In the second quarter, the sales volume was 299,300 vehicles, an increase of 36.05% from the previous quarter; In the third quarter, the sales volume reached 344,800 vehicles, an increase of 15.22% from the previous quarter.

New energy vehicles play an increasingly important role in the annual sales of car companies. In the first three quarters of this year, Great Wall Motor sold a total of 170,300 new energy vehicles, a year-on-year increase of 75.77%; In the first, second and third quarters, the sales of new energy vehicles accounted for 12.64%, 21.86% and 22.37% respectively, showing a trend of increasing quarter by quarter. This shows that the long-term strategic achievements of Great Wall Motor have begun to appear.

Previously, Feng Mu, president of Great Wall Motor, told reporters that new energy vehicles have reached a critical juncture, and the bloodletting price war is definitely not a long-term solution. Only by persisting in long-term doctrine and making the system have the ability to make blood, can enterprises go further.

The reporter also noted that thanks to the intelligent new energy development strategy, the pace of Great Wall Motor’s overseas ecological going to sea has accelerated, and at the same time, high-end models have continued to grow, and Great Wall Motor’s product matrix has formed a structural high-quality development. From January to September, the total export volume of Great Wall Motor reached 211,700 vehicles, up 89.45% year-on-year; The sales volume of vehicles above 150,000 yuan reached 179,700 vehicles, up 98.49% year-on-year, and the brand continued to improve. In the first, second and third quarters, the overseas sales of Great Wall Motor accounted for 23.63%, 24.04% and 25.45% respectively, and the proportion continued to grow.

It can be seen that with the adjustment and upgrading of product structure, star models have been listed one after another, the sales channel network has been accelerated, and the global layout has been deepened. Great Wall Motor has pressed the development acceleration button.

In the third quarter, the top five brands were "all red"

Specifically, the Haval brand sold 73,800 vehicles in September, a year-on-year increase of 37%; Under the strategic blessing of intelligent new energy, Haval sold 203,300 new cars in the third quarter, an increase of 22% from the previous quarter. In the third quarter, the Haval brand launched its efforts in the off-road field, and successively released 2024 Haval Big Dogs and the new Haval H5, a large-scale all-purpose hard-core SUV. The Haval Raptors, a new energy off-road popularization, will also be listed on October 10, leading the new energy off-road SUV to enter the era of the whole people.

Weipai New Energy sold 14,800 vehicles in the third quarter. Since the launch of the six-seat comfortable electric SUV Blue Mountain DHT-PHEV, the popularity has continued to rise, with a cumulative sales volume of more than 24,000 vehicles. During the Chengdu Auto Show, Wei Gaoshan DHT-PHEV officially opened the reservation and will be listed in the near future. In terms of terminal ecology, Weipai currently has 285 terminal stores, including 167 brand-new image stores, and has accelerated the construction of a multi-level sales service network including 4S stores, city exhibition halls and supermarkets, and continuously deepened the pace of high-end development of Weipai.

The Euler brand sold 10,000 vehicles in September, up 31.77% year-on-year, and sold over 10,000 vehicles for five consecutive months, leading the way in the new energy women-friendly subdivision track. In the third quarter, the Euler brand ushered in 400,000 off-line vehicles, officially becoming the first female new energy vehicle brand in the world to break through 400,000 vehicles. In the third quarter, the Euler brand also released the 2023 Euler Ballet Cat, the 2023 Good Cat and the Good Cat GT Mulan Edition, creating a better travel experience for users with the continuous renewal of product quality and service ecology.

Tank brands sold a total of 18,000 vehicles in September, a year-on-year increase of 43.15%. With the blessing of medium and large luxury off-road new energy SUV tank 500 Hi4-T and 2024 tank 300, the tank sold 104,500 vehicles from January to September, up 17.22% year-on-year. At the same time, the tank brand achieved sales of 300,000 vehicles in only 33 months, setting a record for China off-road brands to achieve sales of 300,000 vehicles at the fastest time, ranking first in the sales list of off-road SUVs in China market. In addition, the second model based on the Hi4-T architecture, the medium and large-scale urban function off-road SUV tank 400 Hi4-T, was launched on September 25th to meet the needs of users for urban and off-road vehicles.

Great Wall pickup trucks sold 17,200 vehicles in September, and accumulated sales of 152,700 vehicles from January to September, up 6.5% year-on-year. From January to September, the domestic market share of the Great Wall pickup truck was close to 50%. For every two pickup trucks sold in China, one was the Great Wall pickup truck. Great Wall Gun sold 12,200 vehicles in September, with a cumulative sales volume of over 10,000 vehicles in 37 months, ranking first in pickup truck sales in China. In the third quarter, on the occasion of the fourth anniversary of the Great Wall Gun brand, the 500,000th vehicle was officially rolled off the assembly line, becoming the first high-end pickup truck brand in China to break through 500,000 vehicles, creating a new "Great Wall Gun Speed". Shanhai Gun Performance Edition, a large-scale high-performance luxury pickup truck owned by Great Wall Gun, will be pre-sold nationwide in mid-October after welcoming the world’s first show at Chengdu Auto Show.

The reporter is concerned that with the continuous efforts in the intelligent new energy track, the terminal channels of Great Wall Motor have developed rapidly, and its new energy terminals have reached 156 in August, and it is expected to grow to 1,200 during the year. The three major measures of matrix rejuvenation, channel expansion and service upgrade have worked together, and Great Wall Motor’s intelligent new energy has entered a period of rapid development.

Globalization has entered the era of "One Great Wall"

Overseas business is becoming an important part of car companies’ sales business. In the third quarter, Great Wall Motor sold 87,800 vehicles overseas, an increase of 21.97% from the previous month, accounting for 25.45% of the sales volume. From January to September, Great Wall Motor sold 211,700 vehicles overseas, up 89.45% year-on-year.

"While the sales volume of Great Wall Motor has steadily increased, it has focused on ‘(ONE GWM’ and implemented the strategy of’ Eco-going to Sea’ to achieve accelerated development overseas." Great Wall Motor said.

At the end of 2022, Great Wall Motor officially announced the "ONE GWM" global action plan, creating an aggregation channel with GWM parent brand as the leading category, and working together to achieve brand promotion. At this stage, the localization operation of Great Wall Motor overseas will pay more attention to the improvement of "quality", deepen the connotation of "ecological going out to sea" and create brand advantages.

It is reported that in the third quarter of 2023, Great Wall Motor accelerated the expansion of the international influence of the "GWM" brand. In August, Great Wall Motor successively released the "GWM" brand in Vietnam and Indonesia, realizing the comprehensive coverage of the core regional markets of ASEAN countries. In Latin America, the launch conference of GWM brand of Great Wall Motor and Haval H6 HEV was held in Mexico City, Mexico, marking the official entry of Great Wall Motor into the Mexican market.

In the era of "One Great Wall", Great Wall Motor adheres to the core of "intelligent new energy", and intelligent new energy technologies and products have become the key factors to promote the acceleration of going to sea.

The reporter learned that the five brands of Great Wall Motor have all gone to sea, and high-value intelligent new energy products such as Haval H6 New Energy, Tank 500 New Energy, Euler Good Cat and Wei Mocha PHEV are being accelerated to be put into overseas markets. Advanced new energy and intelligent technologies, such as Hi4, Hi4-T, autonomous driving and intelligent cockpit, will continue to make technical endorsements for the global models of Great Wall Motor.

It is reported that Haval H6, Haval JOLION, Haval Big Dog, Euler Good Cat, Tank 300, Great Wall Gun and other models have been listed in Cambodia, Vietnam, Brazil and other places.

At the same time, Great Wall Motor is also exporting high-end products to overseas markets. The Great Wall Motor Tank 500 has been listed in the Middle East market in succession in the United Arab Emirates, Saudi Arabia, Oman and Bahrain. In addition, in Central Asia, the listing of Tank 500 was held in Almaty, the largest city in Kazakhstan. In the ASEAN market, Tanks 300 and 500 are officially listed in Thailand.

Great Wall Motor’s vision is not only to launch products to overseas markets, but to practice the strategy of "going out to sea ecologically" and take root in overseas localization operations. Great Wall Motor has taken production and R&D abroad through the investment in overseas factories, improved the training and accumulation of local talents, and formed an all-round construction of overseas ecological and industrial chain.

At present, Great Wall Motor has formally signed a strategic cooperation agreement with ADM Automobile Factory of Uzbekistan Automobile Group on Uzbekistan’s market development cooperation, further accelerating the process of overseas localized production and sales of Great Wall Motor.

"In the future, with the outstanding achievements of Great Wall Motor’s intelligent new energy layout, Great Wall Motor will continue to accelerate the rejuvenation of intelligent new energy products with profound technical accumulation, continuously enhance the development potential of intelligent new energy, promote the upgrading of terminal services, accelerate the landing of the’ ecological sea-going’ model overseas, and push the development of enterprises to a new height." Great Wall Motor said.

(Editor: Zhang Shuo Proofreading: Yan Jingning)