Text/Wen Chong
A maximum premium of 70,000 yuan per car! For Great Wall Motors, foreigners' money may be better earned.
Great Wall Motor's latest overseas market report card shows that the company's overseas sales last year were nearly 140,000 vehicles, more than doubling the year-on-year. More importantly, among the new cars sold by the Great Wall in overseas markets, the highest premium has reached 70,000 yuan. Bidding farewell to "small profits and high sales", Great Wall Motors has entered a new stage of "high quality and high price".
In 2021, Chinese auto brands have crossed the threshold of 2 million annual exports and entered a period of rapid development. Among them, Great Wall Motors' cumulative overseas sales last year were nearly 140,000 vehicles, an increase of 102.98% year-on-year.
However, the most eye-catching part of this report card is not the rapid growth of sales, but the high premium of overseas models - up to 70,000 yuan.
According to Great Wall Motors, The Euler good cat, which is priced at 127,900-157,900 yuan in China, can sell for 989,000-1,199,000 baht (about 188,000-228,300 yuan) in the Thai market, with a premium of 60,000-70,000 yuan; the domestic price of 126,800-159,800 yuan of Great Wall Gun passenger pickup trucks can sell for 35990-45490 Australian dollars (about 171,200 yuan- 216,400 yuan), with a premium of 44,400-56,600 yuan.
Foreigners' money is indeed better earned.
There are financial report data as proof. According to the 2021 financial report, Great Wall Motor's current overseas revenue was 16.16 billion yuan, accounting for 11.85% of the operating income, an increase of more than 142.24% year-on-year.
So, how does Great Wall Motors make foreigners pay for such a high premium?
"It is mainly due to the rapid robbery of overseas users' minds by Great Wall Motor's high-quality products and services." This interpretation is very official. In layman's terms, it is to enhance product strength. At present, Great Wall Motors mainly promotes global models for overseas markets, and its third-generation Haval H6, Great Wall Gun, Haval JOLION and other global products have achieved domestic and foreign synchronization in terms of product performance and intelligent technology configuration.
Taking the Haval H6 HEV listed in Thailand as an example, this car is equipped with lemon hybrid DHT technology, which brings a full-scene, full-speed area surging and comfortable driving experience, as well as two-way protection of the global active intelligent security prevention and control system and the passive security defense system. Since its launch in June last year, it has ranked second in monthly sales volume in Thailand's C-class SUV market for several consecutive months.
At the same time, Great Wall Motors has also localized more distinctive services and marketing in China. For example, in Thailand, Great Wall Motors provides Euler Good Cat users with services of buying cars and sending piles and installing household charging piles for free, and has built the world's first light storage and charging integrated supercharger station in Siam Square in the CBD of Bangkok, Thailand, providing 24-hour power replenishment services for free; in Australia, sponsoring the triathlon movement to launch the Great Wall Cannon; and launching Haval JOLION in Russia, South Africa, Saudi Arabia and other places, it will create real life scenes for young people in a scenario-based way.
In fact, in order to better "go out", Great Wall Motors has made more efforts than that.
At present, Great Wall Motors has established R&D centers in the United States, Japan, Germany, India and other countries, forming a global R&D layout with China headquarters as the core and covering Europe, Asia and North America. In terms of production, the Tula plant in Russia and rayong in Thailand have been put into operation through acquisitions and self-construction, and the acquisition agreement signed at the Iracemapolis plant in Brazil was completed in January this year. By the end of 2021, Great Wall Motors has exported to more than 170 countries and regions, with nearly 700 overseas sales channels.