Great Wall Motor announced its financial report for the first quarter of 2022, with revenue of 33.62 billion yuan in the first quarter, an increase of 8.04% year-on-year, and a net profit of 1.634 billion yuan, which is twice that of BYD (808 million yuan). The average bicycle price of the Great Wall in the first quarter reached 119,000 yuan, up 29.12% year-on-year, and the bicycle profit was about 4,600 yuan, an increase of 16.62% year-on-year. With the subsequent large-scale delivery of high-premium models such as the Tank 500 and mocha DHT-PHEV, the average price and profit of bicycles are expected to continue to rise this year.
In the first quarter of this year, Great Wall Motor's cumulative sales volume was 283,500 units, down 16.3% year-on-year. The tank brand sold 25,753 units in the first quarter, an increase of 79.8% year-on-year, of which the cumulative number of tank users exceeded 100,000, and the sales volume of Weipai in the first quarter was 14,285 units, an increase of 22.3% year-on-year. Euler's cumulative sales in the first quarter were 33,754 units, up 10% year-on-year. Haval brand sales were 166,756 units, down 25% year-on-year, and Great Wall pickup truck sales were 42,952 units, down 27.7% year-on-year.
Great Wall Motor continues to optimize its product structure and continuously push up the brand premium capability, and at present, the proportion of models based on lemon, tank and coffee intelligence brands has reached 70.4%, and the proportion of intelligent models has reached 84.5%. This year, Great Wall's five major brands will also launch New Products such as Wei brand MPV (Buick GLi same level), Wei brand medium and large 6-seat SUV, Wei brand sedan (similar to GT-R), Haval Cool Dog, Euler Ballet Cat, Lightning Cat and so on.