Great Wall Motor Company Limited (GWM) has reported impressive sales figures for July 2024, demonstrating the company’s unwavering commitment to quality and innovation in the global automotive market. With the release of its latest sales data, it continues to make significant strides, particularly in overseas markets, where its vehicles have seen unprecedented demand.
Record-Breaking Sales in July 2024
In July 2024, GWM sold a total of 91,285 new vehicles, showcasing its strong market presence. Among these, 24,145 were new energy vehicles (NEVs), highlighting GWM’s growing focus on sustainable mobility. Notably, overseas sales reached an all-time high of 38,185 units, marking a remarkable 41.39% year-on-year increase. Additionally, GWM sold 22,845 vehicles priced above 200,000 CNY, reflecting a year-on-year growth of 4.65%.
For the first seven months of 2024, GWM’s cumulative sales stood at 650,954 vehicles, representing a 3.60% year-on-year increase. Of these, 156,519 were NEVs, a significant 28.14% rise compared to the previous year. Overseas sales during this period also surged, with 239,685 units sold, a 58.80% year-on-year increase. The sales of high-end models priced above 200,000 CNY reached 163,378 units, showing a robust year-on-year growth of 48.64%.
Commitment to Quality and Innovation
GWM’s success in July is a testament to its commitment to long-term quality development. The new generation HAVAL H6 continues to lead the charge as a beloved “national car,” with its advanced 1.5T+7DCT and 2.0T+9DCT powertrain options setting new benchmarks for family SUVs. GWM is also advancing its technological capabilities with the development of the Coffee OS 3 intelligent space system and the Coffee Pilot Ultra intelligent driving system, ensuring that its vehicles are at the forefront of automotive innovation.
In terms of marketing, GWM has optimized its product mix, achieving both quantitative and qualitative growth. The company’s focus on delivering premium products and services has paid off, with GWM’s semi-annual performance forecast for 2024 estimating a net profit of between 6.5 billion and 7.3 billion yuan, reflecting a staggering increase of 377.49% to 436.26% compared to the same period last year.
Brand Performance and Market Leadership
GWM’s success is evident across its five major brands, each contributing to the company’s overall growth:
- HAVAL: The brand sold 52,944 new vehicles in July, with a cumulative total of 352,682 units sold from January to July. The new generation HAVAL H6, with its impressive performance and reliability, continues to be a cornerstone of GWM’s success.
- WEY: The NEV brand sold 22,632 units from January to July, with the new WEY 80 model featuring advanced technologies such as the Coffee Pilot Ultra and Coffee OS 3. This model is setting new standards for luxury and intelligence in the automotive industry.
- TANK: With 18,682 new cars sold in July, a year-on-year increase of 38.49%, TANK is making significant inroads in the SUV market. The TANK 500 Hi4-T received the prestigious China Automotive Health Five-Star Certification, further solidifying its reputation.
- ORA: The brand sold 4,780 new cars in July, with cumulative sales of 36,529 units from January to July. ORA’s focus on the battery electric vehicle (BEV) market is evident with the launch of the 2024 ORA 03 and the 2024 ORA 03 GT Mulan Edition, driving forward GWM’s presence in the electric vehicle segment.
- GWM Pickup: The brand sold 12,028 new vehicles in July, with a total of 103,944 units sold from January to July. GWM’s pickup trucks continue to dominate the Chinese market, particularly with the introduction of the King Kong POER 8AT and the 2.4T GWM POER.
Accelerating Global Expansion and Ecosystem Export
GWM’s strategy of accelerating its “ecosystem export” is paying off, with overseas sales hitting a record high in July 2024. The company’s global presence is bolstered by its comprehensive product offerings across various categories and powertrains. With over 14 million global users and cumulative overseas sales exceeding 1.6 million units, GWM is setting new benchmarks for comprehensive overseas operations, including research, production, supply, sales, and service.
In July, GWM expanded its global footprint with the launch of the TANK 300 in Malaysia and Azerbaijan, the TANK 500 in Chile, and the HAVAL DARGO in Uzbekistan. The company also made a significant impact at the Jakarta Auto Show in Indonesia, where it showcased multiple brands, including HAVAL, TANK SUV, and ORA, attracting considerable attention.
Future Outlook
Looking ahead, GWM remains committed to its long-term principles, focusing on the intelligent NEV segment, strengthening its position in the off-road market, and accelerating its global expansion. The company will continue to enhance its technology research and development, optimize its capital chain and industrial ecosystem, and contribute to the healthy and sustainable development of China’s automotive industry.
GWM’s impressive performance in 2024 underscores its commitment to quality, innovation, and global leadership in the automotive industry. As the company continues to expand its global reach, it is well-positioned to drive future growth and success.