Great Wall Motors' Q3 Operating Revenues up 23.52%
On October 23, Great Wall Motors released the business report for the third quarter of 2015: in the first three quarters, the company achieved a net profit of 6.209 billion yuan, operating revenues of 52.604 billion yuan and a total profit of 7.552 billion yuan, up 11.17 percent, 23.52 percent and 10.85 percent year on year respectively. By September 30, the company's total assets had reached 65.412 billion yuan.
Great Wall Motors' outstanding business performance amid the micro growth of the Chinese auto market was attributable to the sales rise from product structure optimization. Since the beginning of this year, the company has further optimized its product structure by launching models such as Haval H8, Haval H6, Coupe, Haval H2 2016 and Haval H6 2015, so as to enrich the Haval product line, further increase the proportion of SUV sales to 81.66 percent, and boost its overall sales. According to the company's production and sales express, the company sold 586,700 units in the first three quarters, up 15.37 percent year on year, including 479,000 SUVs, up 38.35 percent year on year. Top-selling Haval H6 and H2 still fell short of demand, with sales of 252,800 units and 113,600 units, ranking 1st and 6th in the Chinese SUV segment respectively.
According to an industry expert's analysis, the Chinese auto market stopped declining in September, micro stimulus policies aimed to boost automobile consumption have been released successively, and a turning in vehicle sales is expected. Thanks to the steady sales growth of Great Wall Motors in the first three quarters, and the policy of halving the vehicle purchase tax which benefited several of its models on sale, including Haval H1, H2 and H6, Great Wall Motors is expected to have better market performance and continue to increase its sales in the fourth quarter.