On May 10, GWM released the sales data in April 2021. In April, GWM sold 91,784 new cars, with a YoY surge of 14%, of which 82,703 units were sold in China, with a YoY increase of 5%, and 9,081 units were sold overseas, with a YoY increase of 349%. From January to April, the cumulative sales volume of GWM reached 430,582 units, up 86% year on year.
HAVAL had a sales volume of 55,018 in April and 277,746 units in total from January to April, a 70% increase over the last year. GWM Pickup had a sales volume of 20,200 units and a cumulative sales of 79,588 units from January to April, up 71% year on year. The brand sales accounted for nearly 50% of the overall domestic market. GWM POER had a sales volume of 10,006 units in April, with a YoY growth of 25%, ranking the top in pickup sales. For ORA, the sales volume was increased by 324% over the last year in April and 38,159 units were sold totally from January to April, with a YoY surge of 754%, securing its position among Tier I new energy vehicle brands. For TANK 300, 5,500 units were sold, with a month-on-month increase of 10%, and a total of 19,823 units were sold from January to April.
On May 10, Google and Kantar jointly released the "2021 BrandZ™ Top 50 Chinese Global Brand Builders", and GWM was listed among other brands for the first time. Meanwhile, GWM was also listed among "2021 BrandZ™ Top 20 Rising Stars". GWM has once again drawn the attention of global users with its manufacturing strength and steady growth after Auto Shanghai 2021.
BrandZ™ is an international and authoritative large brand building platform and the one and only brand value list that take consumers’ opinions into account. Since 2017, Google had joined with Kantar to collect data on the Google research platform and assess the growth of Chinese Global Brands with the globally recognized BrandZ™ brand value model developed by Kantar and based on the search volume on Google. The "2021 BrandZ™ Top 50 Chinese Global Brand" was released by Kantar along with Google. The research covered more than 860,000 consumers from 11 market places. The Top 50 list was based on scores of the significance, differentiation and high-lighting, and was selected from 1662 candidates in 15 categories. According to IMF, the global economy has dropped by 3.5% due to the pandemic. However, many Chinese brands including GWM have shown the resolution to promote the brand establishment and boost overseas business growth facing the "black swan" incident.
In the last month, GWM has officially launched five brands at Auto Shanghai 2021, i.e. HAVAL, WEY, ORA, Pickup, and TANK in order to steadily promote their global expansion. As the major brand under the SUV category of GWM, HAVAL had won the first place among automobile brands on the 2020 "BrandZ™ Top 50 Chinese Global Brand". In the first half of 2021, JOLION and 3rd Gen HAVAL H6 have been launched successively in core markets such as Saudi Arabia, Australia and South Africa. While the previously launched GWM POER has become the first Chinese pickup brand entering several countries. With overall layout in the global market, GWM will certainly solidify its leadership in the industry.
As one of the BrandZ™ Top 50 Chinese Global Brand Builders, GWM has formed its global sales network in major markets such as the Middle East, South America, Australia, South Africa and Russia, comprising more than 500 distributors. Its overseas sales cover more than 60 countries around the world. In the next five years, GWM will invest more than RMB 30 billion in global R&D and introduce more than 400 global automotive engineers and IT experts. Meanwhile, it will cooperate with global tech giants including Intel, Google and Apple to develop the most super-advanced technologies, and provide global users with more intelligent, high-tech and high-quality products.
On April 8, GWM released the production and sales data of March 2021. In March, 110,736 new GWM cars were sold, with a year-on-year growth of 84.4% and a month-on-month growth of 24.4%. Among them, 8,052 cars were sold overseas, with a year-on-year increase of 35.5%. From January to March, 338,798 GWM cars were sold, with a year-on-year increase of 125%, of which 28,810 were sold overseas, with a year-on-year increase of 115%.
In SUV category, 67,187 new HAVAL cars were sold in March, with a year-on-year increase of 66.6%, and the cumulative sales volume from January to March was 222,728, with a year-on-year increase of 110%. 25,999 WEY cars were sold from January to March, with a year-on-year growth of 163%. 22,001 GWM pickups were sold in March, with a year-on-year increase of 43.3%, and a market share of nearly 50%. 12,085 GWM POER cars were sold in March, with a year-on-year increase of 120%. ORA has set a new high in sales volume again. In March, 13,049 new cars were sold, with a year-on-year increase of 1038% and a month-on-month increase of 77.0%. From January to March, 30,683 new cars were sold, with a year-on-year increase of 1035%.
On March 30, Great Wall Motor Company Limited (hereinafter referred to as "GWM"; stock code: 601633 for A-share and 2333 for H-share) issued the Annual Report 2020. In 2020, when the external environment is fraught with uncertainties, GWM's sales sustained a sound growth and hit a record high. As of December 31, 2020, GWM registered total revenue of RMB 103.308 billion, up 7.38% YoY, and achieved a net profit of RMB 5.362 billion, a jump of 18.36% from the previous year.
Over the last year, GWM promoted self-transformation with the concept of "user-centered" and accelerated its transformation into a "global mobility technology company". Empowered by new technology brand, category layout, and mechanism reform, GWM achieved growth in market sales and business performance against the trend, demonstrating the enterprise's development perseverance.
Brand Building by Category, with An Impressive Increase in Revenue and Net Profit
In 2020, GWM's sales were increased impressively. Its operating revenue throughout the year totaled RMB 103.308 billion, an increase of 7.38% YoY, and its net profit reached RMB 5.362 billion, up 18.36% over the last year. In the total revenue, the vehicle sales registered RMB 92.386 billion, with a growth of 7.11% YoY, and the revenue of parts and components and other products stood at RMB 10.922 billion, increased by 23.32% from the previous year. With brand premium enhanced constantly, the average retail price reached to RMB 93,000, increased by 3.1% over 2019.
Over the past year, GWM built its brand by category and launched a series of online celebrity models such as Haval Big Dog, ORA Good Cat, and Tank 300, driving an all-around explosive growth of the four major brands. In 2020, GWM sold 1,115,900 vehicles, an increase of 5.41% YoY. It was the fifth year in a row that the sales goal of over one million vehicles was achieved.
HAVAL expands sales territory of Russian-manufactured automobiles and encourages export trade to CIS countries: Azerbaijan and Kazakhstan. HAVAL Motor Rus announces cooperation with these companies which receive status of importing vendors. HAVAL model range will be presented at the start by HAVAL F7 and F7x intelligent crossovers, as well as HAVAL H9 frame SUV. All vehicles are manufactured at the full cycle plant in Tula region. In 2020, HAVAL has realized exports to Belarus already. The expansion of the export scope in Azerbaijan and Kazakhstan means that Russian-manufactured HAVAL automobiles at the Tula plant will gradually realize globalization.
The export of Russian-manufactured automobiles to Kazakhstan and Azerbaijan is launched for the first time. The dealer network in Kazakhstan will cover 15 cities and its expansion will take place in two stages in 2021. Azerbaijan’s first imported model is the smart coupe HAVAL F7x, which will greatly enrich HAVAL’s local product lineup and allow local consumers to have more choices.
On March 8, GWM released sales data in February. In February, GWM sold 89,050 units worldwide, with a year-on-year increase of 788%, including a year-on-year increase of 1029% and 226% in domestic and overseas sales respectively. From January to February, the cumulative sales volume of GWM reached 228,062, with a year-on-year growth of 153%, accounting for 19% of the annual sales target.
In SUV category, 61,067 new HAVAL vehicles were sold in February, with a year-on-year increase of 754%, and the cumulative sales volume from January to February was 155,541, with a year-on-year increase of 136%. In February, the sales volume of HAVAL H6 was 31,710, with a year-on-year increase of 525%, ranking the first in China’s monthly SUV sales for 93 months in total.
In pickup category, GWM Pickup takes passenger use, intelligence and safety as the product core value, leading the innovation and change of pickup market. In February, the sales volume of GWM Pickup reached 15,127, with a year-on-year increase of 611% and a market share of 51%. As "the first globalized large pickup in China", the sales volume of POER in February increased by 682% year on year, with a year-on-year growth of 206%, continuing to rank the first in the sales volume of pickups in China.
POER pickups, with superb product strength and precise perception of customer demands, is a series of important pickups in China and also is gaining popularity overseas by winning several awards granted by overseas authoritative media.in just 3 months after being launched. After winning the Car of the Year in Chile, this series was awarded the Car of the Year in the Autocar's pickup category in Australasia , beating many strong rivals in the international pickup field.
There are various restrictions on pickups at home while foreign market is like a paradise for them. At the same time, countries such as the United States, Australia and New Zealand have a profound pickup culture. In the U.S. and Australian markets, for example, pickups rank first among all models. However, the free market has led to the complex models and exceptionally fierce undifferentiated competition like "Ultimate Fighting Championship (UFC)".
Recently, the Ecuador Automobile Association released the top ten best-selling models in 2020, and the GWM Pickup was successfully shortlisted by right of its strong performance. According to statistics, in 2020, GWM Pickup ranked second in the industry of Ecuador (the first in Chinese brands), and sixth in single model in all categories, moving up 4 places in comparison with 2019, with a pickup market share of over 20%, owing to which a strong China Storm and a trend sweeping the market are being formed.
GWM Pickup was successfully shortlisted by right of its excellent product power and adaptability. The GWM Pickup is sweeping the market in Ecuador, bringing a storm of Chinese pickup to the market and forcing the traditional superior brands to gradually fade out of the market. In 2021, it's expected that more new models will be put on the market, and the day to challenge the first in the market is in sight.
Amid the global epidemic in early 2020, GWM launched the customer care activity themed with "Fighting Global Epidemic, We Care", evoked a strong response from its car owners. During the Christmas and New Year period, GWM once again joined forces with many overseas distributors to roll out the second "Global After-sales Service Festival“, which deeply demonstrated its service concept of "Professional, Efficient, Premium". With upgraded activities and increased care, GWM celebrated the holidays with its overseas customers, creating continuous surprises for them.
Customers were invited to participate in the activity online and offline to celebrate the holidays with a host of cares. Being customer-oriented, it helped its overseas dealers to launch differentiated activities according to local circumstances and invite customers via online, offline, and one-on-one notification, allowing every customer to have the access to its care.
At present, the activity of "Labor cost support+Spare part discount" has been successfully launched in Saudi Arabia, Azerbaijan, Bangladesh, Mauritius, Uruguay, Iraq, and Bulgaria to reduce the household expenditure for customers during the holiday season; at the same time, the "Mystery Box" from China is also available, greatly increasing the festive atmosphere for customers. The thumbs-up and smile of the customers in the photos, which represents the greatest appreciation for the activities, inspires the continuous advancement of the care activities for overseas customers.
On January 25, Great Wall Motor Co., Ltd. (hereinafter referred to as GW M) released its 2020 performance report. In 2020, GWM achieved overall revenue of RMB 103.283 billion and a net profit of RMB 5.392 billion, showing year-on-year rises of 7.35% and 19% respectively, making a record new high.
This marvelous achievement, especially in the external environment full of uncertainties and under the context of the profound reconstruction in the global automobile industry, is the outcome of GWM's insistence on the "user-based" self-revolution and its constant pursuits for a brand rooted in science and technology, a market share gained with products and innovative marketing and a transformation to a "global mobility technology company".
Synchronous Growth of Revenue and Net Profit Implies an Upbeat Business Tendency
In the past year, GWM deepened its focus on the needs of both market and customers and boosted a continuous tendency of increasing market share and business performance with brand-new technology brands, product catalogs, and naming of products.
In 2020, GWM registered total revenue of RMB 103.283 billion with a year-on-year increase of 7.35%, gaining a net profit of RMB 5.392 billion, showing a remarkable year-on-year rise of 19%. In the second quarter, with revenue of RMB 23.513 billion, GWM achieved a quarter-on-quarter increase of 89.37%, while that increase of the third quarter was 11.49%, with revenue of RMB 26.214 billion. The revenue in the fourth quarter was RMB 41.14 billion, which increased by 56.94% quarter-on-quarter. The net profit was RMB 2.805 billion, showing a year-on-year rise of 77.58% and a quarter-on-quarter rise of 94.63%.
In the end market, the four major brands of GWM embraced a prevalent booming as a series of popular models was presented. Over 1.11 million vehicles were sold last year, showing a sharp year-on-year increase of 4.8%. It was the fifth year in a row that the sales goal of over one million vehicles was achieved. In addition, the annual sales objective was also overfulfilled with a completion rate of 109%.