Great Wall Motor’s revenue rises 2.61% YoY in Q3 2024

Beijing (Gasgoo)- Great Wall Motor (GWM) recently reported its financial performance for the third quarter (Q3) of 2024, showing total revenue of 50.825 billion yuan, which indicated a 2.61% increase year-over-year.

TANK 700; photo credit: TANK

For the first three quarters of 2024, the automaker’s total revenue reached 142.254 billion yuan, rising 19.04% from a year ago.

The company's net profit attributable for shareholders for Q3 was 3.35 billion yuan, down 7.82% from last year. After excluding non-recurring gains and losses, GWM’s Q3 net profit came in at 2.722 billion yuan, reflecting a 10.98% drop year-on-year.

As one of China’s first automakers to enter global markets, GWM now exports vehicles to over 170 countries, covering key areas in Europe, Asia, Australia, South America, and the Middle East, with over 1,000 international dealerships. Its cumulative overseas sales have reached 1.4 million vehicles, reinforcing GWM's global footprint.

In September this year, GWM recorded sales of 108,398 vehicles, representing a 10.88% decline year-over-year. In the past month, the automaker’s overseas sales hit record high at 44,105 vehicles, while new energy vehicle (NEV) sales totaled around 30,129 units.

In the first nine months of this year, GWM sold 853,813 vehicles in total, down 1.18% from last year. Of these, 324,244 vehicles were sold overseas, which surged 53.16% from the year-ago period and surpassed the company’s total overseas sales for 2023. In the Jan.-Sept. period, GWM’s NEV sales also grew 24.15% from that of last year top 211,492 units.