Great Wall Motor, a leading Chinese automaker, has released a preview of its expected net income for the year 2024. According to the company’s estimates, the net income is projected to be in the range of RMB 12.4 billion to RMB 13.0 billion, marking a substantial increase of 76.60 percent to 85.14 percent compared to the previous year.
This significant growth is attributed to the expansion of overseas sales and the continued optimization of the domestic product mix. The company anticipates that after deducting non-recurring gains and losses, the adjusted net income for 2024 will be between RMB 9.4 billion and RMB 10 billion, representing a year-on-year increase of 94.47 percent to 106.88 percent.
In terms of vehicle sales, Great Wall Motor reported that it sold a total of 1,233,292 vehicles in 2024, showing a slight increase of 0.22 percent compared to the previous year. The company’s performance in the overseas market was particularly impressive, with sales reaching 453,141 vehicles, marking a substantial growth of 36.74 percent from 2023.
Additionally, Great Wall Motor reported a significant uptick in the sales of new energy vehicles (NEVs) in 2024, with a total of 321,795 units sold, representing a year-on-year increase of 22.88 percent. This strong performance in the NEV segment reflects the company’s commitment to sustainable mobility and its efforts to capitalize on the growing demand for electric vehicles.
Overall, Great Wall Motor’s robust financial performance and steady growth in vehicle sales underscore its position as a key player in the global automotive industry. With a strategic focus on expanding its presence in both domestic and international markets, the company is well-positioned to capitalize on emerging trends and drive future growth in the increasingly competitive automotive landscape.
