Great Wall Motor Q1-Q3 net profit nearly doubles YoY

Beijing (Gasgoo)- China’s leading SUV and pickup manufacturer, Great Wall Motor (GWM), reported a significant year-on-year surge in revenue and net profit in the first nine months of this year.

The Ora Good Cat; photo credit: Ora

According to the company’s Q3 financial report r, GWM saw a 10.13% increase in revenue from a year ago, amounting to RMB28.869 billion ($4.51 billion). During the same time, net profit attributable to shareholders totaled RMB1.416 billion ($221.08 million), notching down 1.72% year on year.

During the first three quarters this year, the carmaker accumulated RMB90.797 billion ($14.18 billion) in revenue, surging 46.11% from the previous year. Net profit almost doubled year on year (by 91.13%) to RMB4.945 billion ($772.08 million) during the same period.

For the first three quarters this year, Great Wall Motor added that the company witnessed a 29.9% increase in new car sales versus the previous year to 884,000 vehicles.

Moreover, the automaker has been continually expanding its global layout during the past quarter of this year and has taken on the Egyptian, Bruneian and European markets. During the third quarter, Great Wall Motor announced its target of selling 1 million vehicles overseas in 2025 at a conference.

The H6; photo credit: HAVAL

From January to September, GWM sold 98,000 vehicles outside China, soaring 136.3% compared to a year ago, accounting for 11.1% of the company’s total vehicle sales.

In Thailand, the HAVAL H6 HEV held 33.2% of the market, ranking first in the country’s C-class SUV monthly sales in September. In the same month, GMW sold 3,513 vehicles in Russia, skyrocketing 147% year on year.