Great Wall Motor Posts $13.8B Net Profit in 2025, Driven by Overseas Expansion and Premiumization

Great Wall Motor recently released its 2025 earnings preview, reporting a net profit of RMB 9.912 billion for the full year—a 21.7% year-over-year decline. Nevertheless, against the backdrop of an intense industry-wide price war and an overall automotive sector profit margin that has slumped to 4.1%, the company demonstrated strong earnings resilience. Revenue reached RMB 222.79 billion, up 10.19% year-over-year, while vehicle sales totaled 1.3237 million units, an increase of 7.33%. The average selling price per vehicle rose to RMB 168,300. Overseas operations made a significant contribution, with international sales exceeding 506,100 units—up 11.68% year-over-year—and becoming a key profit driver. New energy vehicle (NEV) sales hit 404,000 units, surging 25.4% year-over-year. Wey brand sales surpassed 100,000 units, and the Tank series continued to lead the rugged off-road SUV segment. Although institutions such as Citigroup have lowered their target prices due to declining gross margins and rising expenses, Great Wall remains among the top profit-generating automakers listed on both the A- and H-shares markets. For 2026, the company targets total sales of 1.8 million vehicles, including 600,000 units overseas, and plans to accelerate its strategic push toward intelligent and premium vehicle offerings.