The August production and sales bulletin released by Great Wall Motors a few days ago shows that a total of 64,096 new cars were sold in the month, a decrease of 12.99% from the same period last year; the cumulative sales from January to August this year were 589,945, a decrease of 2.24% year-on-year. Cumulative sales of 500,429 SUVs in the past eight months. So far, 50.86% of the 1.16 million sales target for 2018 has been achieved.
Not long ago, Great Wall Motor also released its 2018 semi-annual report. According to the report data, Great Wall’s operating income in the first half of 2018 was 47.958 billion yuan, an increase of 16.99% from the 40.993 billion yuan in the same period last year. The net profit for shareholders of the listed company was 3.696 billion yuan, a 52.73% increase compared with 2.42 billion yuan in the same period last year.
Great Wall said that its performance growth was mainly due to the optimization of its product structure and the increase in sales of WEY brand products, which resulted in an increase in overall product profitability. It is understood that in recent years, Great Wall has continued to optimize its product structure, and launched a variety of models to meet the needs of various market segments, and the company's competitiveness has been continuously improved.
Data shows that the Great Wall currently accounts for more than half of the 100,000-class models. The main H6 models have a price range of 100,000 yuan, and the average price of models on sale is nearly 100,000 yuan, reaching the height of joint venture vehicles. With the high profit of SUVs, bicycles The gross profit has also reached 19,000 yuan, and its brand power has been further enhanced. It ranked 16th in this year’s list of the “2018 World’s Most Valuable 100 Auto Brands†and ranked first among the Chinese auto brands on the list. .
Steady growth in sales in the first half of the yearAccording to data from China Association of Automobile Manufacturers, in the first half of 2018, China's passenger car market grew by 4.6% year-on-year over the same period, of which the total sales of self-owned brand passenger vehicles increased by 3.4% year-on-year. With the overall slowdown in the current auto market, Great Wall’s total sales in the first half of 2018 reached 471,939 vehicles, an increase of 3.09% over the same period last year, completing 40.68% of its annual sales target of 1.16 million. Among them, the domestic market sales volume was 449,700, a year-on-year increase of 2.06%, and the sales volume of SUV reached 384,200, which continued to maintain its leading position in the domestic market.
In addition, the terminal sales data released by Pickup City shows that the overall domestic sales of narrow pickup trucks in the first half of the year increased slightly by 1.05%, and the sales growth of Great Wall pickup trucks reached 12.21%, which has greatly exceeded the industry average growth rate. In the first half of the year, Great Wall Fengjun pickup trucks sold 64,234 units. This model has been ranked first in the sales of pickup trucks in China for 20 consecutive years, and the market has performed well.
In the first half of this year, affected by frequent exchange rate fluctuations in overseas markets and geopolitical turmoil, China's auto exports are still facing greater pressure. With the continuous advancement of the national "One Belt One Road" strategy and structural opportunities in overseas markets, new growth points have gradually formed. In the first half of the year, my country's auto companies exported 512,000 vehicles, a year-on-year increase of 29.4%. Great Wall continued to make efforts in overseas markets, achieving overseas export sales of 22,200 complete vehicles, an increase of 29.60% year-on-year.
Launch a variety of new cars in full swingAccording to the semi-annual report released by Great Wall this time, in the first half of 2018, Haval H6 was Great Wall's best-selling model, with sales of 218,653 units, accounting for 46.37% of its total sales during the period. Great Wall’s high-end brand WEY Pie has also become the main source of overall sales. The sales of WEY series (including VV5, VV7 and plug-in hybrid P8) totaled 77,647 vehicles, accounting for 16.47% of Great Wall’s overall sales during the period. Fengjun pickup trucks and Haval H2 also contributed good sales.
Great Wall launched the new Haval H6 Coupe in the first half of the year. The new model has improved power performance and further improved fuel economy. The model is equipped with blind spot detection, 360-degree panoramic imaging and other functions as standard. In March and April, Great Wall launched Haval H4, an upgraded version of the pure electric car C30EV, and the first plug-in hybrid SUV model WEY P8. The P8 is the first product of the WEY brand high-end new energy Pi4 platform. Enjoy the policies of unlimited licenses, unlimited purchases, and exemption of purchase tax, and the comprehensive fuel consumption is as low as 2.3L per hundred kilometers.
During the Beijing Auto Show in April, the Haval F5, the first model of the Haval brand F series, made its debut. In addition to the new model P8, the WEY brand also displayed the first pure electric SUV concept car WEY-X and the modified model WEYRS7. The WEY brand new model VV6 also made its debut during the auto show. In addition, the new energy brand Euler under Great Wall also made its debut at the auto show.
In fact, Euler’s first model, iQ, has been officially launched a few days ago. The new car is positioned as a new generation of pure electric compact crossover. The price is 188-200,800 yuan, and the subsidized price is 8.98- 105,800 yuan, providing two types of models with a cruising range of 280/360km under comprehensive working conditions.
In the first half of the year, Great Wall rapidly expanded its product lineup. It was the intensive launch of these upgraded products and new models that strongly continued to boost Great Wall's sales growth.
Strategic investment projects continue to increaseGreat Wall currently has two production bases in Baoding (including Xushui District) and Tianjin. Among them, Tianjin's complete vehicles and parts have all reached production, providing the Group with sufficient production capacity guarantee. The first, second, and third plants of Xushui vehicle have been put into use, and the Xushui vehicle plant is equipped with more automated and intelligent equipment to provide reliable production guarantee for subsequent new product launches. In March of this year, the construction of the Great Wall Chongqing Yongchuan production base project started. It is understood that the base will mainly produce luxury pickup trucks and H9 models. After reaching production at the end of 2019, it can produce 250,000 vehicles annually, achieving an output value of about 25 billion yuan, and driving a supporting output value of about 25 billion yuan.
In early April, Great Wall Motors and Baidu, a leader in artificial intelligence, signed a strategic agreement at the Boao Forum. The two sides launched strategic cooperation in four major areas: intelligent vehicle connectivity, autonomous driving, shared travel, and big data. In fact, this is not the first time the two have collaborated. Since 2016, Great Wall Motors and Baidu have been cooperating in the field of high-precision map positioning technology; in 2017, at the Baidu AI Developer Conference, Robin Li supported the autonomous driving project-Apollo (Apollo) plan. More than 50 ecological partners including Great Wall, FAW, Changan, Chery and other auto companies have reached strategic cooperation.
At the launch of WEY VV6 in Beijing at the end of August, the WEY brand reached a strategic cooperation with Baidu. According to the content of the cooperation, the WEY brand will join Baidu’s Apollo open vehicle certification platform in the future. At the same time, the two parties will also be committed to the development of the autonomous driving field. From then on, the WEY brand will be fully competitive in the autonomous driving field.
As a matter of fact, Great Wall Motors began to deploy vehicle intelligent technology research and development as early as 2009, and officially released the "i-Pilot Smart Pilot" autonomous driving system in early 2017. At present, the design, development and related tests of the i-Pilot1.0 and i-Pilot2.0 automatic driving systems have been completed.
In addition to strengthening cooperation in intelligent networking and autonomous driving, Great Wall Motors is also focusing on new energy. The electrification of vehicles including the development of hydrogen fuel cells as powertrain models has become the core research and development work of Great Wall Motors. In the first half of this year, Great Wall simultaneously carried out the development of vehicle models with three technical architectures of EV, HEV and PHEV and the planning of FCV. As the first Chinese car company, Great Wall has joined the International Hydrogen Energy Commission to develop hydrogen fuel cell technology. In addition, Great Wall is also constantly increasing its actions in new energy investment cooperation projects.
According to media reports, in 2017 Great Wall subscribed for 56 million new shares of Pilbara Minerals in Australia through its wholly-owned subsidiary, and obtained the underwriting rights for some products of the Pilgangoora lithium mine project. This subscription is expected to provide resources for its new energy vehicle industry chain It guarantees that it will lay a good foundation for improving profitability and sustainable development; in addition, Great Wall has also obtained 25% of Hebei Yujie Vehicle Co., Ltd. by way of capital increase. The two parties will invest in new energy technology research and development, production and manufacturing processes, and parts supply. , Channel construction, brand promotion and other fields.
It is understood that the Great Wall has built battery cell, mechanism analysis, PACK, BMS trial production laboratories, battery trial production workshops, and test centers. New energy technology research and development centers have been established in Seongnam City, Gyeonggi Province, South Korea, Lower Austria, Austria, and Frankfurt, Germany. In addition, on July 10, Great Wall and BMW signed a joint venture contract with each holding 50% of the shares, and the new company was named Light Beam Motor Co., Ltd. The joint venture has planned an international advanced vehicle plant with a standard annual production capacity of 160,000 vehicles-this is BMW's first pure electric vehicle joint venture project in the world, and it is also the bridgehead for Great Wall New Energy Vehicles to move towards internationalization. In addition, on August 7th, Great Wall signed a strategic cooperation agreement with BAIC Group and SDIC China Merchants. The two parties will integrate based on the sharing of parts and components, and will share the hybrid technology of off-road vehicles.
Focus on new energy comprehensive layout in the futureIn 2018, Great Wall launched the innovation of supporting operation mode, initially realized the independent operation of the four major parts companies, and truly faced the market. Combining their respective operating characteristics, component companies enhance market competitiveness through innovation and implementation of diversified operating models, and boost the overall profit growth of the group.
According to the plan, the Great Wall will develop in the direction of clean, intelligent, networked, and shared in the future. While improving the quality of traditional models, it will increase investment in new energy, intelligence, and sharing, and in the hybrid and pure electric fields. Introducing more models and launching more green and energy-saving products through the development of hydrogen energy technology.
In the field of new energy, Great Wall will launch a total of 12 products including pure electric vehicles, plug-in hybrid electric vehicles and fuel cell vehicles based on 5 vehicle models by 2025, specifically 3 small pure electric vehicles (ME platform) , 1 cross-border pure electric vehicle, 2 compact pure electric vehicles (a joint venture with BMW), 4 medium and large plug-in hybrid vehicles, and 2 large pure electric/fuel cell vehicles.
It is understood that these models will be based on XEV large platforms (2 models), new medium and large platforms (4 models), new compact platforms (2 BMW cooperation platforms), crossover model platforms (1 models), and small platforms (ME 3). Models), the vehicle types cover EV, PHEV and FCV, etc., adopting the joint efforts of multiple brands and multiple platforms. Wei Jianjun, Chairman of Great Wall Motors, said in a previous interview, “We focus on social practicability, and in order to solve urban traffic problems, we must build a dedicated new energy platform for pure electric vehicles that can be of the same size and same endurance. 100kg less than competing products."
In terms of intelligent driving, Great Wall will carry out in-depth technical cooperation with companies such as the Internet and telecom operators to improve the technical level in the field of intelligent network connection and intelligent travel. In addition, in the future, it will be the first to install the i-Pilot system on WEY brand models to realize the US SAE L3+ level automatic driving.
In terms of new car launches, Great Wall will launch more competitive SUV models and new energy models in the second half of the year. The smart luxury SUV VV6, a new model of the WEY brand, was launched in August. In September, the F5, the first model of the new F series, will be launched. The new F series models are positioned as the "new sports intelligent connected SUV", mainly for young and fashionable young people, focusing on trendy technology, dynamics and youth. Great Wall's first F7 model equipped with autonomous driving technology will be launched in the fourth quarter. In addition, in terms of electric vehicles, Great Wall launched the Euler IQ, the first model under the Euler brand in the third quarter. Euler R1 and R2 are expected to be launched in the third quarter of this year and next year respectively. In the future, the Euler brand will launch three new products every year. The launch of many new models is expected to further promote the growth of Great Wall's sales in the second half of the year.
summary:In the first half of this year, Great Wall upgrades and intensively launched new energy vehicles. New energy platform building and investment cooperation projects continue to move. While maintaining a steady growth in the SUV market share, Great Wall's strategy of comprehensively deploying new energy vehicles is obvious. However, the SUV market has become a Red Sea under the current intensive competition, especially as the growth rate of domestic SUVs tends to slow down. When the industry questioned the future of Great Wall Motors SUV walking on one leg, Great Wall still firmly locked the target. SUV, and accelerate the layout of the new energy field, which is related to the high profit of SUV and the elimination of the "double points" policy of negative points, and the development of new energy vehicles, a new profit growth point. While speeding up the launch of new cars and model upgrades, ensuring that outstanding product power is used for quality in exchange for quantity, and the differentiated advantages of products to attract consumers are undoubtedly the key to Great Wall Motors' future market expansion.
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