Great Wall Motor sees May auto sales drop YoY, but NEV sales surge

Shanghai (Gasgoo)- Great Wall Motor ("GWM") experienced a decline in sales in May 2024, with total sales dropping to 91,460 units, a 9.51% decrease compared to the 101,073 units sold in May 2023, according to the sales results it issued on June 4.

This downturn was primarily driven by significant reductions in several key segments. For instance, the HAVAL brand saw a 15.35% year-on-year drop, with sales falling from 55,600 units in May 2023 to 47,066 units in May 2024. The WEY brand experienced an even more dramatic decline of 50.40%, with sales plummeting from 5,770 units to 2,862 units over the same period.

The Great Wall Pick-up arm also faced challenges, with sales decreasing by 18.83% year over year, from 18,605 units in May 2023 to 15,101 units in May 2024. Similarly, the ORA brand recorded a substantial decrease of 43.43% over the year-ago period, with sales falling from 10,616 units to 6,005 units.

In contrast, the TANK brand emerged as a bright spot, with sales surging by 94.9%, from 10,429 units in May 2023 to 20,326 units in May 2024.

When examining the year-to-date (YTD) performance, GWM saw a year-on-year increase in sales. For the January to May period of 2024, the company sold 461,589 vehicles, reflecting an 11.42% increase compared to the 414,269 units sold in the same period of 2023.

This positive trend is underpinned by several key segments. The HAVAL brand achieved a year-on-year increase of 7.86% with 252,009 vehicles sold in the first five months of the year. WEY also performed well on a YTD basis, with sales up by 46.59% from a year earlier to 16,928 units. Meanwhile, the TANK brand showcased remarkable growth, with YTD sales almost doubling, increasing by 97.52% to 89,979 units.

What's more, GWM reported a new energy vehicle (NEV) sales volume of 24,649 vehicles for the month of May, resulting in a Jan.-May volume of 106,267 NEVs, which surged 59.67% over a year ago. As for global business expansion, the company recorded a year-to-date overseas sales volume of 163,396 vehicles (+65.18% YoY), 34,477 units of which were achieved in May.