1. If you are in full bloom, butterflies will come
The aroma of wine is also afraid of deep alleys, put it in the business world is how to market the problem, not only to do the product well, but also to let consumers know that you are good, the automotive industry has entered a white-hot competition situation, enterprises that do not understand marketing will suffer a big loss, Great Wall Motors as a leader in the domestic independent brand, is deeply aware of this.
When a young woman demonically shouted "Great Wall, cannon!" to the Great Wall pickup, a magical chemical reaction occurred, as if thousands of troops spread throughout the network, was swiped by the whole network, can be regarded as one of the most successful marketing this year, the Great Wall's marketing team lived up to expectations, caught the splashing wealth, and played the role of this accidental event in publicity.
The Great Wall Cannon is the main model of the Great Wall pickup, which debuted at the Shanghai Auto Show in April 2019, and the commercial pickup truck of the Great Wall Cannon was launched in October 2019, and by August 2023, the Great Wall Cannon ushered in the 500,000th vehicle off the assembly line at the Great Wall Chongqing Smart Factory, becoming the first Chinese high-end pickup truck brand to break through 500,000, and sold 500,000 units in four years.
In mid-April, Dali Lun roared out of the "Great Wall, cannon", and also shouted out the luck of the Great Wall Motors, from the Baidu index, the search index of the Great Wall Cannon increased by more than ten or twenty times, which is the effect of hundreds of millions of marketing expenses can not be spent, and some people joked that this voice will Lei Jun shouted to break the defense, and the well-built marketing feast was invincible to the demonic roar of the little girl.
After Wei Jianjun, the boss of the Great Wall, came back from Lei Jun's press conference, he found that the car could still be sold like this, and Lei Jun's marketing really gave Mr. Wei a great shock, and it turned out that the car could still play like this. As a veteran of the automobile industry, Mr. Wei is 60 years old, and he is a tough guy image, how big is the psychological obstacle to doing Internet celebrity outbound marketing, but Mr. Wei knows that the times have changed and must change! Soon he opened the self-media, and released a video to open a live broadcast, but the effect is mediocre, and the appearance of Da Lilun may be an encouragement to Mr. Wei - if you are in full bloom, butterflies will come.
2. The Great Wall is very "cannon", and its profit has increased by 17 times
On the evening of April 24, Great Wall Motors released its first-quarter financial report, which was really "cannon", achieving revenue of 42.86 billion, a sharp increase of 47.6% year-on-year, and a net profit of 3.228 billion, an increase of 1752%, an increase of 17 times, which is the highest profit in the history of the Great Wall in the first quarter.
From the sales data of the first quarter, it can be seen that the Great Wall sold 100,000 cars in March, a year-on-year increase of 11%, and the cumulative sales in the first quarter were 175,000 units, a year-on-year increase of 25%.
The growth of three of the brands is significant, one is the Haval brand in the first quarter of the year-on-year growth of 25.5%, a total of 158,000 sales, Haval car can be regarded as a national car, in the SUV has long dominated the list, 76 consecutive months of sales first, but in recent years, sales sluggish, surpassed by other brands. It has been ten years since the birth of the Haval brand, and now it is back to growth.
Second, the sales of the luxury SUV brand Wei brand increased by 182%, selling 96.08 million units in the first quarter. The third is the tank brand, which sold 49,000 units in the first quarter, a year-on-year increase of 103%, basically doubling. The price of the tank ranges from 200,000 to 700,000 yuan, and the price is higher, and the doubling of sales volume will naturally lead to an increase in the overall price of a single vehicle, and it will also significantly increase the gross profit of the product.
From the perspective of gross profit margin, Great Wall Motor's gross profit increased to 20% in the first quarter, which is the best level since 2019 and an increase of 4 percentage points compared with the first quarter of 2023, which provides the basis for net profit growth in the first quarter of this year.
3. How did Great Wall achieve a 17-fold increase in profits?
Great Wall Motor's first-quarter performance was "off the charts", and the revenue growth was mainly due to the sharp increase in car sales and the surge in sales of higher-priced brands, and the reasons for the 17-fold surge in profits were more complex and detailed.
First of all, the improvement of the level of supply chain management, the company's gross profit margin has increased significantly, in the case of revenue growth of nearly 48%, operating costs increased by only 38%, which saved the company 2 billion gross profits.
The second is the decline in the growth of sales expenses, and the first quarter of 2023 will spend more on the marketing of new energy vehicles, and the growth rate will slow down significantly in the first quarter of this year, which alone will save the company 400 million gross profits.
The third is management expenses, the management expenses in the first quarter of this year are 1 billion, and the 1.06 billion in the first quarter of last year has decreased by 60 million, the low management expenses are indeed a bit incredible, after all, the revenue has increased by 48%, and the sales volume has increased by 25%, and the management expenses have not increased but decreased, and the company should reduce costs and increase efficiency in internal management, which has saved the company 500 million gross profits.
Fourth, the growth rate of R&D expenses is only 28%, which is 20 percentage points lower than the growth rate of sales revenue, which also saves 300 million gross profits.
The last item is non-recurring profit and loss, which totaled 1.2 billion in the first quarter of this year, and only 390 million in the first quarter of last year, which is equivalent to an increase of 810 million in revenue outside the main business this year, which together increased the company's gross profit by nearly 4 billion.
Great Wall Motors is not conservative, in the field of exports and new energy vehicles have also achieved good results, the first quarter of the export of 92,800 vehicles, a sharp increase of 78% year-on-year, all say that we are very rolled, but the roll out are very competitive, from the Great Wall we see that it is true. New energy vehicles also sold 59,000 units in the first quarter, a significant increase of 110% from 28,000 units in the same period last year, more than doubling.
The Great Wall, Cannon!