Great Wall Motors (GWM) officially enters the Philippines market through its partnership with the Luxuriant Automotive Group. The two parties will jointly explore and develop the Philippines’ automotive market. The Philippines is a Southeast Asian island country in the western Pacific Ocean consisting of more than 7,000 islands and islets.
Luxuriant Automotive Group (LAGI) is the automotive business division of SQ Group. Established in 1988, SQ Group’s business scopes include manufacturing, real estate, import, and distribution, with three decades of experience in the Philippines market.
The person in charge of GWM in the Philippines shared that GWM will deploy SUVs and pickup trucks to the Philippines market in the future.
In February this year, GWM released its ASEAN strategy and plans to gradually start operations in Malaysia, the Philippines, Vietnam, and Singapore after successful deployments in Thailand, Brunei, and Laos, to accelerate its 2025 globalization strategy.
So far, GWM has deployed hybrid, plug-in hybrid, and pure electric vehicles to the Thai market including Haval H6 DHT-PHEV, Haval H6 HEV, Haval Jolion HEV, ORA Cat, and ORA Cat GT. Then, in July this year, GWM established a subsidiary in Malaysia, relying heavily on hybrids and pure electric vehicles for its growth in the country. Specifically, the Ora Good Cat EV, Haval H6, and Haval Jolion were being considered for the Malaysian market. Now, its entry into the Philippines market is another milestone for GWM to implement its ASEAN strategy and achieve its 2025 globalization goal, according to the carmaker.
Great Wall Motors is one of the largest car manufacturers in China with multiple brands under its umbrella and as it turns out, is the largest manufacturer of SUVs in the Chinese market.
On October 21, GWM released its financial report for the third quarter of 2022. In the third quarter of this year, GWM’s revenue was 37.346 billion RMB, a year-on-year increase of 29.36%, and a net profit of 2.557 billion RMB, an increase of 80.55% year-on-year. For the first three quarters this year, GWM’s total revenue was 99.480 billion RMB, a year-on-year increase of 9.56%, and a total net profit of 8.149 billion RMB, a year-on-year increase of 64.80%.
Source: Isuike, GWM
