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Only 90,000! Great Wall car sales are declining against the trend.

2024-07-18 Update From: AutoBeta NAV: AutoBeta > News >

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

Great Wall Motor announced on June 3 that KuaiBao sold 91500 Great Wall cars in May, down 9.51% from a year earlier. A total of 461600 vehicles were sold from January to May, an increase of 11.42% over the same period last year. Among them, 24600 new energy vehicles were sold in May, with a cumulative sales of 106300 from January to May. Compared with the annual sales target of 1.6 million vehicles set at the beginning of the year, Great Wall achieved only 28.9%, which is more difficult to achieve.

According to the "Automotive Industry concern" query, affected by the Spring Festival holiday, with the exception of February, Great Wall car sales basically stabilized at about 100000, falling directly to 91500 in May. Compared with mainstream carmakers, such as BYD, Chery and Geely, they all recorded year-on-year growth. Great Wall is the only company known to have seen a year-on-year decline in sales in May, and sales growth in the first five months was also much lower than that of others. It is understood that in May, Geely and BYD car sales increased by 38% compared with the same period last year, Chery Holdings increased by 36%, and BAIC Blue Valley increased by 33%.

Or affected by sales, Great Wall's A shares fell 3.4%, while Hong Kong shares fell 10%.

From a brand point of view, only tanks in the sub-brands of Great Wall Automobile have achieved growth, while Harvard, Euler, Wei Brand and Great Wall all declined year on year, especially Wei Brand, which directly halved, down 50.4% from the same period last year.

The Harvard brand is not only the sales pillar of Great Wall, but also the weather vane of Great Wall, accounting for more than half of its total sales. In May, the Harvard brand sold 47100 vehicles, down 15.35 per cent from a year earlier. Great Wall did not disclose specific model sales, according to previous sales trends, the Harvard brand's top-selling model is still the Harvard H6, and this model is in the replacement stage, more or less affecting the performance of the end market.

It is understood that the Harvard H6 series has sold as much as 4 million vehicles in the 13 years since its launch, winning the top 108 monthly sales and supporting more than 20% of the sales of the Great Wall all the year round. With the rapid rise of new energy vehicles, electric and intelligent products begin to be favored by consumers, and the market position of Harvard H6 is threatened. From January to April of 2024, Harvard H6 sold a total of 74000 vehicles, of which April has dropped below 10,000, and its ranking in the SUV market has slipped beyond the 20th place.

Not long ago, Li Ruifeng, CGO of Great Wall, wrote that at a recent internal meeting, Wei Jianjun once again criticized Harvard H6's marketing strategy, accusing stakeholders of lack of user thinking and market sensitivity. In addition, Great Wall Chairman Wei Jianjun also said in a live broadcast that the decline in Harvard H6 sales is because there is a lot of disorderly competition and malicious competition bringing chaos to the industry, but Great Wall Motor has a bottom line and will not participate. In his and the internal view of the Great Wall, poor marketing and malicious competition from competitors are the main reasons for the decline in Harvard H6 sales.

Among other brands, Wei Pai was the worst, with monthly sales falling again to 2000 to 2862, down 50.4 per cent from a year earlier. It is understood that at present, only three models of Wei brand are on sale, namely Blue Mountain, Alpine and Mocha, and their main sales source is Blue Mountain. This medium and large SUV is based on "coffee intelligence" technology platform, adopts six-seat layout, and is powered by a plug-in hybrid system composed of 1.5T engine and motor. Its comprehensive range exceeds 1200 km, competing with popular models such as ideal L8 and M7, with cumulative sales of 9803 in the first 4 months. Of these, 3088 were sold in April. Sales of other models are not optimistic, especially the Mocha, which sells more than 100 vehicles a month.

The tank brand is the only brand that has achieved growth and skyrocketed, with sales up 94.9% year-on-year to 20300 vehicles. Different from other brands, the model performance of the tank brand is more balanced. At present, the models on sale include tanks 300,400,500,700, of which tank 300 is the main selling model, with a cumulative sales volume of 23400 in the previous April. The remaining tanks 500 and tank 400 are also above 10,000.

Great Wall, which is in the critical stage of new energy transformation, with the introduction of more and more new energy models, the existence of its domestic new energy vehicle market is getting stronger and stronger. Data show that a total of 106300 new energy vehicles were sold from January to May in 2024, of which 24600 were sold in May.

At the same time, Great Wall Motor is also accelerating the promotion of overseas markets. Data show that Great Wall sold 163400 vehicles overseas from January to May in 2024, of which 34500 were sold in May. It is understood that, including Ola good cat, Hafer H6 HEV and tank 500 HEV and other models, listed in Brazil, Vietnam, Indonesia and other overseas markets. With the expansion of overseas business, the overseas market is also expected to become a new growth point of Great Wall automobile sales. However, according to European Automotive News and other foreign media reports, Great Wall plans to close its European headquarters in Munich, Germany, and lay off all 100 employees by the end of August, but Great Wall does not intend to withdraw from the European market. Great Wall will continue to develop in existing markets, including Germany, the UK, Ireland, Sweden and Israel, but its European business will be managed by its Chinese headquarters.

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