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Only three months on the job! Another senior executive of Great Wall left.

2024-02-24 Update From: AutoBeta autobeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)05/31 Report--

According to comprehensive reports, Guo Tiefu, general manager of public relations at Great Wall, has resigned, leaving on May 8 for personal reasons.

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Guo Tiefu joined Great Wall Motor for a short time, only three months. On February 8, Great Wall announced that Guotiefu would be the general manager of Great Wall Automobile Public Relations since February 2023, responsible for Great Wall Automobile brand building and foreign media public relations. Great Wall said that the addition of Guotefu will further strengthen the marketing management team of Great Wall Motor.

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Guotiefu graduated from the University of Ghent in Belgium in 2006 with a master's degree in knowledge and information management, and then worked in the field of automotive brand and product communication. Prior to joining Great Wall, Guotiefu served as executive deputy general manager of Baowo Automobile Group Marketing Company, and has since been responsible for marketing planning in Audi, Bentley, Jaguar Land Rover and other car companies. He joined Chinese Express in May 2018 as the senior director of Gaohe Automobile Market and Public Relations. He joined Lutes in October 2022 and became the senior director of marketing, general manager of public relations in Lutes China. Joined Great Wall Motor in February 2023 as General Manager of Public Relations of Great Wall Automobile.

After entering 2023, the internal personnel changes of Great Wall Motor are particularly frequent. On January 30, Wang Fengying, former general manager of Great Wall Motor, joined Xiaopeng Motor as president of Xiaopeng Automobile; on May 24, Wen Fei, general manager of the Aurra / Sharon brand, left due to health reasons. Wen Fei was the second marketing general to leave Great Wall Automobile after Wang Fengying left. The latest news says that he may join Xiaomi Automobile to be responsible for marketing and report to Lei Jun, but it is not certain yet.

2022 will be a particularly difficult year for Great Wall Motor. At the beginning of the year, Euler's black / white cat announced a suspension of sales, and even though Euler launched two models, ballet cat and lightning cat, it still failed to recover the decline. At the same time, the fuel vehicle market is shrinking and the new energy vehicle market is low and high. Harvard announced that it will enter the new energy vehicle market in an all-round way, but its annual sales of the Harvard H6 PHEV/HEV are basically ignored, with annual sales of 3174 and 2041 respectively, while the total sales of the Harvard brand are 617000, down 19.9% from the same period last year. Hafer H6 was surpassed by BYD Song and Tesla Model Y. In addition, the high-end brand WEY remains in the doldrums, with full-year sales plummeting 37.66 per cent.

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As the main brands failed one after another, Great Wall Motor finally came to a bleak end. In 2022, the total sales of Great Wall cars were 1.068 million, down 16.7% from the same period last year. Among its five major brands, only tanks achieved positive growth. With its shrinking scale, Great Wall's days of lying down and making money have come to an end, with a net profit of only 500 yuan for Q4 bikes in 2022.

After entering 2023, the operating condition of Great Wall Motor has not changed. According to the financial report, Q1 Great Wall Motor's revenue in 2023 was 29.039 billion yuan, down 13.63% from the same period last year; the net profit was 174 million yuan, down 89.34% from the same period last year; and the non-net loss was 217 million yuan, down 116.65% from the same period last year. During the reporting period, Great Wall car sales totaled 220000, down 22.4% from the same period last year. Harvard, Wei Brand, Euler, and tanks all declined to varying degrees, especially Wei Brand, down 76.18% from the same period last year, falling for 10 consecutive months, halving for six consecutive months.

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From the perspective of data, the decline in sales led to the weakening of economies of scale and the increase of discounts under the pressure of superimposed price war, resulting in pressure on the bicycle income and cash flow of Great Wall. Q1 in 2023, the bicycle profit of Great Wall Motor dropped to 800 yuan, and the net cash flow of operating activities was-8.2 billion yuan. Great Wall's shares have also continued to fall, with the latest Hong Kong shares trading at HK $7.96, corresponding to a market capitalization of 67.47 billion yuan, down 79 per cent from their all-time high in 2021.

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According to Great Wall's plan, total sales in 2025 are targeted at 4 million vehicles, with new energy penetration reaching 80 per cent. The huge gap between ideal and reality even made Wei Jianjun, the head of Great Wall, misbehave at the wine table, saying angrily at the new forces at a media dinner that "they know nothing." A few days ago, Great Wall Motor reported that BYD Qin PLUS DM-i and Song PLUS DM-i used atmospheric fuel tanks on suspicion of substandard evaporative pollutant emissions from the whole vehicle. Industry insiders believe that "mutual supervision by the industry is a good thing, but both openly and secretly revealed that Great Wall Motor is really in a hurry."

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