Great Wall Motor boasts 47.6% YoY surge in Q1 2024 revenue

Shanghai (Gasgoo)- On April 24, Great Wall Motor ("GWM") released its financial results for the first quarter (Q1) of 2024. During this period, GWM achieved revenues of 42.86 billion yuan, representing a 47.6% surge year-over-year. Meanwhile, its net profit attributable to shareholders of the listed company reached 3.228 billion yuan, marking a dramatic increase of 1,752.55% compared to the same period last year.

Photo credit: GWM

In Q1 2024, GWM sold 275,300 new vehicles, representing a year-on-year jump of 25.11%. Among these, sales of new energy vehicles reached 59,200 units, indicating a drastic year-on-year surge of 112.82%. Its annual overseas sales reached 92,800 units last year, soaring 78.51% from a year ago.

GWM’s R&D expenditure in Q1 2024 reached 1.96 billion yuan, marking a year-on-year increase of 27.73%. The company is intensifying focus on its core technologies, making strides in hybrid, all-electric, and hydrogen technologies. 

Photo credit: GWM

At the ongoing Auto China 2024 in Beijing, GWM showcases over 20 vehicle models. Its brands including WEY, TANK, Haval, ORA, and GWM Pickup make their appearances together for the first time. Models like the new-gen Haval H6, the new-gen Haval H9, the Intelligent Driving edition of the WEY Blue Mountain, the TANK 700 Hi4-T, the 2024 ORA Good Cat, the Yaoye edition of the ORA Lightning Cat, the POER Shanhai Hi4-T are set to be displayed together.