Changan Automobile sees 2.54% YoY growth in Q1-Q3 2024 revenue

Beijing (Gasgoo)- On October 28, Chongqing Changan Automobile Co., Ltd. (Changan Automobile) released its third-quarter (Q3) financial report for 2024, showing an operating revenue of 34.24 billion yuan, down 19.85% year-on-year.

In the same quarter, the company’s net profit attributable to shareholders dropped 66.44% from a year ago to 748.1 million yuan.

Photo credit: Changan Automobile

For the first nine months of this year, Changan Automobile’s total revenue reached 110.96 billion yuan, indicating a 2.54% year-on-year rise, while net profit plummeted 63.78% from the year-ago period to 3.58 billion yuan.

Changan Automobile’s cumulative sales from January to September this year reached 1.905 million vehicles, up 1.89% year-on-year, keeping Changan on track for its 2024 sales goal of 2.8 million units, including 750,000 new energy vehicles (NEVs).

Among brands, Changan NEVO aims to sell 250,000 vehicles this year, while the figures for DEEPAL stands at 280,000 vehicles, and AVATR at 90,000 vehicles. Changan Automobile has achieved 68% of its annual sales target by the end of Q3.

During the 4th CHANGAN Tech Ecosystem Conference on October 21, Chairman Zhu Huarong reaffirmed ambitious goals for 2030: aiming for annual sales of 5 million units, with 4 million from wholly-owned brands, over 60% from NEVs, and more than 30% of sales from overseas markets.