Great Wall Motor has a bumper January

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Great Wall announced on February 7 that it had sold 104,030 cars in January a 69% year-over-year increase. Highlights include 25,030 new energy vehicles accounting for nearly a quarter of the total, a 295.5% YoY increase. Overseas sales were 26,374 units, up 64.9% YoY. Furthermore sales of models priced over 200,000 yuan (USD27,920) made up 23.6% of the total with 24,497 units sold, a 9.72% YoY increase.

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Looking at the individual brands, they all saw increases. Haval was up 50.8% with sales of 59,103. Although sales of Haval New Energy were up 276.3% they make up a small proportion of overall sales with a total of 6,005 cars.

While sales of Wey were up to 217.3% YoY the total of 3,351 was not particularly impressive.

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Tank did much better with sales of 20,067 up 239.3% on the year. More impressively 9,631 of those were new energy vehicles, up 16.7% month-on-month. Sales of the Tank 400 Hi4-T and Tank 500 Hi4-T were 4,586 units and 5,045 units, respectively. January also saw production of the 300,000th Tank 300.

Great Wall’s Ora brand of all electric cars sold 6.001 an increase of 63.3% over last year. Production of the Ora Good Cat (Ora 03) commenced on January 12 at Great Wall’s Rayong New Energy production plant in Thailand. Great Wall claims to be the first auto brand in Thailand able to manufacture hybrid, PHEV and fully electric cars.

GWM’s Poer pickup brand managed to sell 15,466 units, a 32.4% YoY increase.

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Sales in China are usually weak in the first quarter with the second half of the year being the best. Going in to 2024 Great Wall seems to have good momentum and should be able to achieve sales in the region of 1.5-2.0 million units. With a string of new product launches such as the Tank 300 Hi4-T and new models from Ora the company should be able to maintain the momentum. The increasing figures for new energy vehicles, an area Geat Wall has struggled with, are particularly welcome.

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