On January 17, Wuling Motors official WeChat reported that in 2022, China's Wuling total sales reached 1600007 units, of which new energy vehicle sales exceeded 600,000 units, a year-on-year increase of 33%. Wuling Hongguang MINI EV sold more than 550,000 units throughout the year, ranking first in sales of Chinese brand pure electric vehicles for 28 consecutive months.
At the same time, Wuling is also developing overseas year by year, and its export volume has maintained rapid growth for 7 consecutive years, with a cumulative export of 193579 units in 2022, a year-on-year increase of 33%; Retail sales in Mexico, the overseas core market, increased by 206% year-on-year, and the Indonesian branch sold a cumulative total of 30,037 units in 2022.
In terms of new cars, Wuling launched a number of new models last year, such as Hongguang MINI EV GAME BOY, "PEOPLE'S BIG 7-SEATER" Wuling Jiachen, Wuling Xingchen Hybrid Edition, 2023 KiWi EV, Wuling Hongguang MINI EV Convertible, Wuling Xingchi, Wuling Almaz Hybrid, and Airev Clear Sky, the first global car of GS EV intelligent architecture, and is expected to launch new cars intensively this year.
However, although Wuling Motors' annual sales are high, because the price of bicycles is low, the profitability of vehicles is also low, and compared with joint venture brand models, the profit of bicycles is even less than a fraction of that of joint venture models.
According to the financial report released by SAIC, SAIC-GM-Wuling's net profit in 2021 was 1.135 billion yuan, and its annual sales volume was 1.6 million units. This also means that Wuling's net profit for each car sold is only 709 yuan.
In contrast, Toyota, Volkswagen, and GM's bicycle profits are more than 10,000 yuan, while the BBA of luxury brands is higher, with a bicycle profit between 22,600-42,038 yuan, and Tesla also earns more than 30,000 yuan per car sold.
