Great Wall Motor Reports Record NEV Sales in 2023

Great Wall Motor (GWM) has achieved significant success in the new energy vehicle (NEV) market, with record-breaking sales in 2023. The company sold 29,816 NEVs in December, marking a 168.59% increase compared to the previous year. Overall, GWM recorded annual cumulative NEV sales of 261,546 vehicles, representing a 98.39% year-on-year growth.

GWM’s success can be attributed to the introduction of its five major brands – Haval, Ora, Tank, Wey, and GWM Pickup – into the NEV market. These brands have experienced an average monthly growth rate of 17.70% and an average quarterly growth rate of 57.14% in 2023.

One of the standout performers is the Haval brand, which achieved cumulative NEV sales exceeding 77,000 units in 2023, showing an impressive 649% year-on-year increase. Looking ahead, GWM has announced that all its models will come equipped with Hi4 hybrid technology as a standard feature by the end of 2024.

In addition to its domestic success, GWM has also made significant strides in overseas markets. In 2023, the company reported overseas sales exceeding 300,000 vehicles for the first time, with cumulative sales surpassing 1.4 million vehicles. As part of its expansion strategy, GWM plans to enter eight new European markets, including Italy, Spain, Portugal, the Netherlands, Belgium, Luxembourg, Austria, and Switzerland. This move follows its successful entry into the German and British markets. GWM aims to make inroads into these European markets with the introduction of the WEY 03, which will debut in Rome during an exclusive test drive event.

Furthermore, GWM intends to accelerate its NEV deployment in Southeast Asian markets. In November 2023, the company launched the Ora 07, a pure electric vehicle, in Thailand. This launch was accompanied by a strategic cooperation agreement with the Tourism Authority of Thailand to explore sustainable green travel initiatives.

As GWM expands its presence in overseas markets, it will be interesting to see how this impacts its NEV sales. With the global adoption of NEVs increasing rapidly, GWM’s strategic moves position the company well for continued growth and success in the future.

FAQ Section:

1. What is Great Wall Motor’s success in the new energy vehicle (NEV) market?

Great Wall Motor (GWM) achieved significant success in the NEV market, with record-breaking sales in 2023. In December, the company sold 29,816 NEVs, marking a 168.59% increase compared to the previous year. Overall, GWM recorded annual cumulative NEV sales of 261,546 vehicles, representing a 98.39% year-on-year growth.

2. Which brands contribute to GWM’s success in the NEV market?

GWM’s success can be attributed to the introduction of its five major brands into the NEV market. These brands are Haval, Ora, Tank, Wey, and GWM Pickup. They have experienced an average monthly growth rate of 17.70% and an average quarterly growth rate of 57.14% in 2023.

3. What is the standout performer in GWM’s NEV sales?

The Haval brand is the standout performer, achieving cumulative NEV sales exceeding 77,000 units in 2023, showing an impressive 649% year-on-year increase.

4. What is GWM’s plan for hybrid technology in its models?

GWM has announced that by the end of 2024, all its models will come equipped with Hi4 hybrid technology as a standard feature.

5. How successful is GWM in overseas markets?

In 2023, GWM reported overseas sales exceeding 300,000 vehicles for the first time, with cumulative sales surpassing 1.4 million vehicles. GWM plans to enter eight new European markets, including Italy, Spain, Portugal, the Netherlands, Belgium, Luxembourg, Austria, and Switzerland, following its successful entry into the German and British markets.

6. How does GWM plan to expand its presence in Southeast Asian markets?

GWM intends to accelerate its NEV deployment in Southeast Asian markets. In November 2023, the company launched the Ora 07, a pure electric vehicle, in Thailand. This launch was accompanied by a strategic cooperation agreement with the Tourism Authority of Thailand to explore sustainable green travel initiatives.

Key Terms:
– NEV: New Energy Vehicle refers to vehicles that are powered by alternative energy sources, such as electric vehicles and hybrids.
– Haval: A brand under Great Wall Motor that focuses on SUVs.
– Ora: A brand under Great Wall Motor that specializes in electric vehicles.
– Tank: A brand under Great Wall Motor that offers rugged off-road vehicles.
– Wey: A brand under Great Wall Motor that produces premium SUVs.
– GWM Pickup: A brand under Great Wall Motor that manufactures pickup trucks.

Suggested Related Links:
– GWM Official Website
– New Energy Vehicles in China

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