As the former founder of the "national god car" Haval H6, Great Wall Motor still did not defend the throne of "SUV sales" in the first quarter of this year. At the same time, with the decline in sales of Great Wall's multi-brand models, Great Wall Motor's performance is also worrying.
Fast Technology learned that on April 21, Great Wall Motor disclosed its performance report for the first quarter of 2023, and the financial report showed that Great Wall Motor achieved revenue of 29.039 billion yuan in the first quarter, down 13.63% year-on-year; the net profit attributable to the parent was 174 million yuan, down 89.34% from the same period last year; deducted non-net loss of 217 million yuan, down 116.65% from the same period last year;
This also means that in the first quarter of this year, Great Wall Motor's revenue and profit showed negative growth, especially the non-net profit, with a loss of 217 million yuan, which is equivalent to Great Wall Motor, which only relies on the main business of car manufacturing, is not profitable.
For the change in performance, Great Wall Motor explained that it was mainly due to the fact that the reporting period was still in the product structure adjustment period, and based on the rhythm of new product launch in 2023, it increased new energy brand building and R&D investment.
Li Ruifeng, chief growth officer of Great Wall Motor, said, "Blindly pursuing the market is not profitable and cannot sustain long-term development; Blindly want profits, not market share, so we want to balance the quality of market share. ”
In terms of sales, Great Wall Motor sold 220,000 units in the first quarter, down 22.41% year-on-year. Great Wall Motor's sales target for this year is 1.6 million units, equivalent to a target completion rate of only 13.7%.
Moreover, Great Wall's Haval, Weipai, Ora, and Tank all declined to varying degrees, especially Weipai, with sales of only 3403 units, down 76.18% year-on-year;
As for Great Wall Motor's star model Haval H6, sales in the first quarter were only 48,000 units, down 32.8% year-on-year, far behind by new god cars such as BYD Song Plus.
There is no doubt that in the current new energy vehicle market has not opened up the situation, Great Wall Motor's multi-category strategy has not been able to boost its sales performance. Whether Great Wall Motor can still meet its sales target this year, we will wait and see.