Great Wall Motor boasts 26.26% YoY jump in 2023 annual revenue

Beijing (Gasgoo)- On January 23, Great Wall Motor (GWM) unveiled its 2023 performance report, revealing a total operating income of 173.41 billion yuan, which jumped 26.26% year over year. 

Photo credit: GWM

The company’s net profit reached 7.01 billion yuan, resulting in a net profit attributable to shareholders of 4.682 billion yuan after deducting nonrecurring gains and losses, up 4.58% from a year ago.

Notably, GWM's steadfast commitment to long-term high-quality development is evident in the continuous improvement of both per-vehicle average revenue and total assets throughout the year. In 2023, the per-vehicle average revenue for GWM reached 140,900 yuan, reflecting an increase of 12,300 yuan compared to that of a year ago. The total assets of GWM in 2023 amounted to 201.93 billion yuan, rising 8.94% year on year.

The improved performance of GWM stems from a strategic focus on long-term high-quality development, substantial progress in the intelligent new energy vehicle transformation, sustained effectiveness, and an accelerated comprehensive overseas expansion.

In 2023, GWM made significant strides in intelligent new energy vehicle development, optimizing its product structure, and releasing 15 new energy vehicle models. With a portfolio covering five major brands and a comprehensive range of categories for both commercial and passenger vehicles, GWM achieved complete scenario and category coverage, witnessing the consecutive launch of popular models and a strengthening growth trend.

Photo credit: GWM

For the year of 2023, GWM recorded cumulative sales of 1,230,704 vehicles, marking a year-on-year growth of 15.29%. Notably, annual overseas sales reached 316,018 vehicles, soaring 82.48% from a year ago and establishing a historic record. As more globally strategic models successfully entered international markets, GWM's overseas sales surpassed 1.4 million units to date. In 2023, GWM's new energy vehicle sales almost doubled from the previous year to 262,003 units (+98.74% YoY).