Great Wall Motors

Great Wall Motor is a major Chinese private automotive company. The holding includes four automobile production enterprises and 20 subsidiary companies producing automotive components.

Performance indicators

2023: Revenue growth of 26% to $24.14 billion

At the end of 2023, the Chinese private automotive company Great Wall Motor (GWM) received revenue of 173.4 billion yuan (approximately $24.14 billion at the exchange rate as of January 29, 2024). This is a 26% increase from the previous year's result, as stated in the financial report published on January 23, 2024.

GWM's net profit in 2023 was recorded at 7.01 billion yuan (about $0.98 billion). The year-on-year drop was 15%. This is also due to fluctuations in exchange rates and unfavorable macroeconomic conditions. At the same time, the company continued to optimize its operating structure in order to improve financial performance.

Haval.com

In 2023, GWM sold 1.23 million vehicles globally. Of these, about 316 thousand were delivered to markets outside China: this corresponds to an increase of 82.5% on an annualized basis. As of December 2023, the company's monthly sales abroad reached 33.48 thousand units.

The report also noted that GWM is increasing sales in the NEV - New Energy Vehicles segment. These are vehicles that are fully or predominantly powered by electricity, including hybrids. In 2023, GWM sold approximately 262 thousand such machines, which is 98.7% more than in the previous year.

It is noted that the growth of the automaker's indicators is facilitated by a commitment to research and development in the field of new technologies. SUVs of the Tank family enjoy success: these cars are in demand, including on the Russian market. The company also produces cars under several other brands - Haval, Wey, Ora and Great Wall Pickup. In June 2023, GWM formed a strategic partnership with Inchcape, a major car distributor.^[1]

History

2022: Tank Auto Brand's Launch on the Russian Market

On October 20, 2022, it became known about the withdrawal of Great Wall Motor (GWM) to the Russian car market of a new brand - Tank. At the first stage, the Chinese company will sell two models of SUVs.

As the press service of the automaker told Interfax, in January 2023, T300 model SUVs will enter the Russian market, and T500 in March. At the initial stage, cars will be imported from abroad, the company said.

Tank 300

The cost of Tank 300 and Tank 500 by October 21, 2022 has not been announced. It is only known that the cars are equipped with a two-liter gasoline turbo engine with 220 horsepower and a three-liter power of 299 horsepower, respectively. The machines will be equipped with 8 and 9-speed automatic transmissions. Ground clearance is not less than 220 mm.

As for the off-road characteristics, both models presented received four-wheel drive with a lock of the rear and front interwheel differentials, and are also equipped with a number of specialized options. For example, for SUVs, a rear and front differential lock with electronic control is available. When slipping the wheels of a car on off-road routes, the driver can lock the differential with one button and confidently overcome the obstacle.

At first, the volume of supplies to new SUVs will be small, so at first they will be transported from China, and, if the models are successful, the localization issue may be considered - Great Wall has an assembly site in the Tula region, where Haval cars are currently being produced.^[2]

Notes