Great Wall Motor’s H1 auto sales rise 7.79% YoY despite drop in June

Shanghai (Gasgoo)- Great Wall Motor ("GWM") announced its monthly sales dropped 6.55% year on year to 98,080 vehicles in June 2024 with TANK being the only brand to gain a positive sales growth. However, its year-to-date (YTD) performance remained positive, driven by strong growth in the TANK brand and steady performance in HAVAL and WEY.

As for performance of each brand, HAVAL experienced a significant decline in June sales, dropping by 19.11% compared to the prior-year period to 47,729 units. However, its YTD sales increased slightly by 2.42%, indicating overall stability in the brand's performance.

With 2,939 vehicles sold, WEY saw a sharp decline of 55.48% in June sales compared to June 2023. Despite this, the brand's YTD sales improved by 9.46%, showing resilience in the annual perspective.

The Great Wall Pick-up segment experienced a 7.7% year-over-year decrease in June sales, which stood at 15,251 units. Its Jan.-Jun. sales also dropped by 10.41% over a year ago to 91,916 units.

ORA saw a significant drop in both June sales and YTD sales, with declines of 39.8% and 32.87%, respectively.

What's more, TANK performed exceptionally well, with a year-on-year soar of 104.02% in June sales, which amounted to 26,059 units. For the first six months of this year, its sales almost doubled, showing a 98.94% increase, marking TANK as the fastest-growing brand within GWM.

The company also reported a new energy vehicle (NEV) sales volume of 26,107 units for the month of June, resulting in an YTD volume of 132,374 units, which leapt 41.99% over the year-ago period.

The company also experienced a robust business expansion in overseas business. In the first two quarters of 2024, GWM witnessed its overseas markets’sales zoom up 62.59% year over year to 201,500 units, 38,104 units were sold in June.