GWM's Q3 revenue reached 26.21 bln yuan, up 23.6% YoY

On October 23, Great Wall Motor released its third quarter financial report. IIA learned that in the third quarter of this year, GWM's total operating income was 26.21 billion yuan, a year-on-year increase of 23.6% and a month-on-month increase of 11.5%. The net profit attributable to the parent company was 1.44 billion yuan, a year-on-year increase of 2.9%, the gross profit margin was 19%, and the vehicle sales volume was 286,000. From January to September this year, GWM achieved a total operating income of 62.14 billion yuan.

Since July, the four major brands of Haval, WEY, Ora, and Great Wall pickup under GWM have successively ushered in the debut and listing of many new models. These include new models such as the third-generation Haval H6, Haval Big Dog, Haval First Love, WEY Tank 300, VV7 GT brabus, Ora cat series, Great Wall Pao modified models.

The sales of the four major brands of Haval, WEY, Ora, and Great Wall pickup all achieved substantial growth in the third quarter compared with the same period last year. The sales of the Haval brand in the third quarter were 183,000, an increase of 8.5% year-on-year. The WEY brand sold 24,000 vehicles, a year-on-year increase of 3%. Ora and Great Wall pickup trucks rose strongly, with year-on-year growth rates of 179.9% and 93.2% respectively in the third quarter.

The third-generation Haval H6 sold more than 10,000 in its first month of launch, and it has been the monthly sales champion of SUVs for 88 months. The Ora White Cat has sold 2,227 vehicles in the three months after its launch. The Black Cat sold nearly 12,000 vehicles in the third quarter, a year-on-year increase of 159.4%. Great Wall Pao has sold more than 10,000 for five consecutive months, with a market share of nearly 50% from January to September.