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Great Wall car sales soar!

2024-03-04 Update From: AutoBeta autobeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)06/06 Report--

Great Wall Automobile released production and sales KuaiBao on June 5, showing that car sales in May totaled 101020, up 26.18% from January to May, down 0.78% from January to May. Based on the annual sales target of 1.6 million vehicles announced by Great Wall, the target completion rate in the first five months was 25.8 per cent.

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According to the data released by Great Wall Motors, except Euler, all other brands have achieved growth to varying degrees. Harvard brand, as the sales pillar of Great Wall Motor, is also the weather vane of its sales trend, accounting for more than half of its overall sales, up 33.18% from the same period last year. Wei Brand increased 128.97% from the same period last year, making it the biggest increase under Great Wall Motor.

The growth of the Harvard brand is related to its new models. On May 9, Harvard Owl Dragon / Owl Dragon MAX officially went on sale, in which Harvard Owl Dragon locates compact SUV with a price range of 13.98-156800 yuan, and owl Dragon MAX locates medium-sized SUV with a price range of 15.98-179800 yuan. Both the owl dragon and the owl dragon MAX are plug-in models, in which the owl dragon focuses on the mainstream consumer market, while the owl dragon MAX is aimed at a higher-end market. With reference to model positioning and product pricing, its competitors point directly at BYD Song Pro DM-i/PLUS DM-i, the former selling price is 13.58-165800 yuan, and the latter is 15.48-187800 yuan.

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At present, Harvard brand models for sale are mainly concentrated in the compact SUV market, including Harvard H6, Harvard Red Rabbit, Harvard first Love, Harvard Big Dog, Harvard Cool Dog and so on. These models are very close in terms of price and positioning, which inevitably leads to "cannibalism", which affects the market performance of Harvard H6. As more and more SUV of other brands are introduced to the market, Harvard, which mainly pushes SUV, is under increasing pressure.

As a high-end brand of Great Wall Automobile, Wei Brand ushered in a long-lost highlight moment. According to the data, sales of Wei brand in May were 5770, up 128.97% from the same period last year, making it the largest growth brand under Great Wall, of which 5136 were sold in the first full month of Wei Lanshan DHT-PHEV. Under the pressure of sales, Wei pins on the two core technologies of "smart DHT" and "coffee intelligence", all of which are DHT-PHEV models, cutting into the high-end new energy car track.

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On June 1, the new Wei brand mocha DHT-PHEV model was officially launched, and a total of 1 model was launched, with a price of 231800 yuan. As a medium-term revamped model, the new Mocha DHT-PHEV has been replaced with the latest family design style, with the shadow of a small Blue Mountain. The new car continues to carry a plug-in hybrid system composed of 1.5T engines and motors, and future competitors will target models such as the ideal L7 and frigate 07.

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As the only pure electric brand under Great Wall, sales of the Euler brand in May were 10616, down 1.41% from a year earlier, making it the only declining brand under Great Wall. After entering 2023, the Euler brand has not yet launched a new car and still relies on Euler good cats to maintain overall sales, compared with the smaller size of ballet cats and lightning cats. It is worth mentioning that Wenfei, the former Eula Salon brand CEO, has left Great Wall Motor and may join Xiaomi Automobile to report to Lei Jun.

At present, tank brand products include tank 300 and tank 500 models, of which tank 300 is the main sales model of tank brand, accounting for more than 85% of the total sales of tank brand. In the future, tank brand will also launch tank 400, tank 700 and other models. Figures show that tank brands sold a total of 10429 vehicles in May, up 30.07% from a year earlier.

Looking back on 2022, the market performance of Great Wall Motor is not optimistic. According to the data, the total sales of Great Wall cars in 2022 were 1.0675 million, down 16.67% from the same period last year, and there is a huge gap from its 1.9 million sales target, with a completion rate of only 56.19%. Great Wall Motors has lowered its target to 1.6 million in 2023, which has attracted much attention from the market.

After entering 2023, Great Wall did not perform well. According to the financial report, the revenue of Great Wall Motor in the first quarter 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 22.41 per cent from the same period last year, of which Wei brand sales were only 3403, down 76.18 per cent from the same period last year, while the Euler brand was also nearly halved, down 47.37 per cent from the same period last year.

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In the second quarter, Great Wall car sales began to pick up, mainly due to the impact of the epidemic in the same period, but there was also a positive market reaction after the layout of new cars. After entering May, Great Wall Motor launched a number of new cars one after another, and Owl Dragon / Owl Dragon MAX fired a "key shot" for Harvard to switch to the new energy track, which is similar to BYD Song in terms of pricing and technical route. In order to recapture the stolen market, the car uses a higher configuration than Song, offering a more attractive price in an attempt to boost sales. The same is true of the Wei brand. The price of the Blue Mountain DHT-PHEV starts at 273800 yuan, while the competitors point to the ideal L7 and the M7. The price of the new mocha DHT-PHEV drops by 63000 yuan, starting at 231800 yuan, directly against the BYD frigate 07. These models are seen as Wei brand's sharp weapon to turn the situation around. However, the road to self-repair of Great Wall is doomed to be uncertain.

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