Driven by Brand Premiumization and Globalization, GWM Created CNY 33.6 Billion Revenue in the First Quarter of 2022
GWM created a revenue of CNY 33.6 billion in the first quarter of 2022, up 8.04% year-on-year, with a net profit of CNY 1.6 billion.
On April 22, Great Wall Motor Company Limited (stock code: 601633.SH, 02333.HK; hereinafter referred to as GWM) released the first quarterly statement of 2022. GWM created a revenue of CNY 33.6 billion in the first quarter of 2022, up 8.04% year-on-year, with a net profit of CNY 1.6 billion. The pandemic situation in many places affected a number of GWM parts suppliers, resulting in limited production capacity. Driven by brand premiumization and globalization, GWM established a strong endogenous power and remained its operation stable and growing through the optimization of product mix as well as the continuous development of new energy and intelligent technologies.
Average Price of Per Vehicle Increased to CNY 119,000 to Promote the BranPremium with High Quality
The continuous optimization of product mix keeps promoting the brand premium of GWM. In the first quarter of 2022, the proportion of models based on the three major technology brands, L.E.M.O.N, TANK and COFFEE reached to70.4%, and the proportion of intelligent models was up to 84.5%; the average price of per vehicle in the first quarter was CNY 119,000, up 29.12% year-on-year.
Through building high-quality models based on category innovation, GWM has eventually established advantages in various segments. As a representative model in the off-road SUV market, TANK 300 triggered a warm response in the market after its launch; and as of the first quarter of 2022, the total number of users was more than 100,000. The two product matrices under the TANK brand, the "Mecha Tech" and the "Business Luxury", will be continuously upgraded in future, so as to create the fashionable off-road lifestyle for the users through the category innovation, service upgrading and ecology co-creation. Thanks to the insight to user demands, ORA GOODCAT, which meets the car using requirements of modern women, reached a total sales of 19,460 in the first quarter, with a year-on-year increase of 240%.
WEY Latte DHT
Focusing on the COFFEE series models, WEY successively launched Macchiato DHT, Macchiato DHT-PHEV, Latte DHT and Mocha DHT-PHEV through the power technical support of intelligent DHT, so as to continuously complete the matrix of COFFEE series. The sales of WEY Latte DHT continued to rise, and reached a sales of 2,576 in March, indicating a month-on-month growth of 8%.
Mocha DHT-PHEV of WEY
On the intelligent track, GWM won the industry recognition by product strength and technical background. During the Third China Annual Intelligent Vehicle Appraisal, WEY Mocha won the prize of annual intelligent vehicle through intelligent parking assist, intelligent cruise assist, intelligent navigation system and excellent performance in other aspects. Mocha DHT-PHEV launched in March this year, aimed at the high-end new energy market with price above CNY 300,000, and created a new category of "0 anxiety intelligent electric" through NOH high-level intelligent driving and 204km WLTC ultra-long pure-electric driving range.
WEY Mocha Won the Prize of Annual Intelligent Vehicle
Haomo Smart Travel, affiliated to GWM, assisted the users in more than 7 million kilometers of driving mileage; in the first quarter of 2022, the growth rate of monthly installed capacity of HAOMO HPilot exceeded 200%. The urban driving assist product in mass production, "HAOMO City NOH" will be officially launched in recent days, which will further underpin the technical foundation of GWM intelligent technologies.
At the same time, GWM successively opened up the new category markets. The first product of TANK Business Luxury series, TANK 500, was launched on March 18, which is a medium-large business luxury SUV with the driving and riding experience comparable to the million-yuan-level vehicles, so as to meet the user's high-quality travel requirements in business, home, travel, off-road and other scenarios.
With the solid implementation of category innovation philosophy, GWM has accurately met the user requirements and maintained the stable operation achievements, and also provided the endogenous power to create another peak of the brand value.
Widely Praised in Overseas Markets, Continuously Released Global Models
Based on the complete globalization system, the high-value models of GWM successively entered overseas markets and won the user recognition.
GWM POER Pickup Wins the Award of "Best Pickup of the Year" in Chile
GWM remains popular in overseas markets by virtue of its high-value models and brand appeal. According to the report of the National Automotive Association of Chile (ANAC), GWM sold 1,131 pickups in Chile in February 2022, with a month-on-month growth of 38%, taking up a market share of more than 19%, ranking first in the overall sales of pickups in the month. Rooted in Chile for 15 years, GWM continued to thrive in Chile relying on its product strength, in-depth user operation and continuous upgrading of brand stickiness.
GWM Made Appearance at 43th Bangkok International Motor Show
GWM brought HAVAL H6 HEV, HAVAL H6 PHEV, HAVAL JOLION HEV and ORA GOODCAT to the stage at the 43rd Bangkok International Motor Show in Thailand, and ORA GOODCAT GT and TANK 300 HEV concepts debuted in the Thai market. These initiatives also show the creative thinking and youthful vitality of GWM brands under the new ecology of intelligent technology. This year, GWM will continue to launch a variety of new energy models in the Thai Market. At the same time, GWM will expand and improve its sales and charging service networks to bring the users more valuable new energy models in multiple categories.
As an important market of global models, GWM also made excellent achievement in South Africa. In January and February 2022, the 3rd-Gen HAVAL H6 of GWM occupied 15% of the compact SUV market segment in South Africa, ranking first in sales volume of the local segment for two consecutive months. HAVAL JOLION was launched in April 2021 and won the market segment sales volume champion in the first month. By March 2022, over 8,000 HAVAL JOLIONs had been sold in South Africa.
Based on the improvement of the global model matrix, GWM will continue to strengthen its influence in overseas markets and create another driving force for the enterprise development. In future, GWM will launch more high-value models; and overseas achievements will be even better while the market potential of products is further released, and the brand will be promoted upward to a new peak.
Adhered to the category innovation and driven by the brand premiumization and globalization, GWM is running in full speed ahead on the road of transformation toward the "global intelligent technology company".