Great Wall H1 revenue and profit grow

Graeme Roberts September 3, 2021 (Last Updated September 3rd, 2021 10:38)

Revenue and profits rose versus Covid hit 2020.

Great Wall H1 revenue and profit grow

Great Wall Motor Company said first half revenue reached CNY61.928bn, with year on year growth of 72.4%. Net profit rose 207.9% to CNY3.529bn.

The automaker cited “steady increase” of both vehicle unit volume and the average selling price per vehicle.

It sold 614,389 vehicles in the first half with year-on-year sales growth of 53.68%.

The average per vehicle sales price reached CNY 100,800, growth of 12.15%.

GWM said it invested almost CNY2.9bn in science and technology research and development in the first half, up 63.15%.

Overseas sales rose 133.2% to a record 61,559 vehicles and the automaker has set an exports goal of 1m in 2025.

The purchase of Daimler’s Erasemapolis factory in Brazil will accelerate the development of GWM in South America, the automaker said.

It has also recently entered Nepal, Iraq and Brunei.