In 2020, Great Wall Motors released a ** on the occasion of its 30th anniversary, in which Wei Jianjun asked the question: "Will Great Wall Motors survive next year?" At that time, the Chinese Internet was full of jokes about the big guys' reverse show-offs, Wang Jianlin sang "Nothing" at the annual meeting, Ma Yun said he was not interested in money, and Liu Qiangdong said he couldn't tell who was beautiful. Therefore, when the owner of a car company with annual sales of more than one million said that he would not be able to survive next year, I did not have a trace of turmoil in my heart after listening to it.
Facts have proved that Wei Jianjun is not playing with pain literature, but really sees the crisis.
After surviving 2021, Great Wall Motor's sales will be in 2022**. Afterwards, the Great Wall called 2022 a "squat" for a better "jump" in 2023. So, let's take a look back at what Great Wall Motor's starting posture is in 2023, and what are the gains and losses.
Some of the more positive data
The first is the V-shaped rebound in overall sales, compared with the decline in the first half of the year, Great Wall Motors began to exert its strength in the second half of the year, with a cumulative sales of 1.23 million units in 2023, a year-on-year increase of 1529%, which is the eighth consecutive year that it has sold more than one million. Last year was a milestone year for China's automobile sales to exceed 30 million, and the cumulative production and sales reached 3,01610,000 and 300940,000 units, up 11. y/y6% and 12% - Great Wall Motors is the outperform**.
The second is the continued flowering of overseas markets, with a cumulative sales volume of 3160,000 units, a year-on-year increase of 8248%, ranking third among independent brands, closely following Chery, ahead of Geely, BYD and Changan. Since the end of the 20th century, it has been going overseas to the construction of full-process vehicle production plants in Russia, Thailand, Brazil and other countries, and overseas sales have accounted for a quarter of Great Wall Motor's total sales. However, compared with SAIC Motor's export volume of more than one million, Great Wall Motors still has a lot of room for growth.
The third is that new energy passenger vehicles have risen considerably, with annual sales of 26150,000 units, a year-on-year increase of 9839%。In terms of proportion, new energy vehicles currently account for 21 of Great Wall Motor's total sales3%, this figure lags behind Geely. Although it debuted for more than 30 years, Great Wall Motors is still relatively young in the field of new energy, and it is still a car company dominated by fuel vehicles.
The fourth is the improvement of bicycles, and the average bicycle** of Great Wall Motors in 2023 is 14090,000 yuan, an increase of 1 year-on-year230,000 yuan. The concept of bicycle ** has rarely been mentioned by independent car companies in the past, which is the keynote of a company and a direct endorsement of which segment of the market it is in. So what is the current position of Great Wall Motors? We can refer to the bicycles of several other independent car companies** - BYD: 17150,000 yuan; Geely Automobile: 10120,000 yuan; Changan Automobile: 1110,000 yuan.
The fifth is the growth of net profit deducted from non-attributable to the parent company, and in 2023, Great Wall Motor's net profit deducted from the non-attributable parent will be 468.2 billion yuan, a year-on-year increase of 458%。The deduction of non-net profit represents the main business profit of an enterprise, for example, A automobile company made a profit of 1 billion yuan this year, of which 8 billion yuan is actually the income from the sale of real estate, which is obviously not conducive to the long-term stable development of the enterprise, because selling real estate is unsustainable. As long as there are conditions, the financial report can be dressed up, and the Great Wall disclosed the data of deducting the net profit of the non-parent this time, which is to prove that its main business is continuing to improve.
Some thorns that need to be trimmed
Car companies in 2023 are exhausted, trying to survive the war of volume ** and volume configuration. We have always said that China's auto market has passed a period of rapid development, but judging from the situation last year, the market train is still racing. Standing at the crossroads of change, many car companies choose to take off first, and then adjust their posture, during which they will encounter some new and old problems, if not solved, they will slowly become thorns and pierce into the flesh. Great Wall Motors was born on the eve of the outbreak of China's auto market, and it has eaten dividends, but there are also some problems that have become prominent and become scars behind glory.
The first is the end of the era of "big items". In the past, Haval H6 was the anchor point of Great Wall Motors, and at its peak, it achieved an amazing monthly sales of 80,000 yuan, leading the Great Wall to grow like a bamboo. And in 2023, the Haval H6 only sold 2180,000 units, with a monthly average of 180,000 units, surpassed by Changan CS75, is unnoticed. Fortunately, while the veteran has fallen, there are also rookies, and the tank brand is still developing steadily, with a cumulative annual sales volume of 1620,000 units, a year-on-year increase of 3121%。
The second is the "Honkai" of the naming system, whether it is Ora's cat series, Haval's dog series, Wei's coffee series, or the latest dragon series, all of which have been complained by many netizens. At present, most manufacturers in the industry are adopting the rules of digital naming, which is simple and easy to understand, and it is also convenient to identify the level of the model. In fact, WEY has used digital naming before, and products such as VV5 and VV7 have left a deep impression on the industry.
The third is the twisting of the progress of intelligent driving. Intelligent driving is the overall partial project of the independent old forces, but like the Great Wall, "nothing can be done" is still a minority, BYD has greatly expanded the scale of the intelligent driving department, Geely's extreme krypton has almost touched the threshold of the first echelon, and the Great Wall still has no results. Some products with lidar were planned before, such as Blue Mountain and Mocha, but so far there has been no large-scale mass production. If the Great Wall wants to make a breakthrough in intelligent driving in 2024, changing the ** business is the best choice.
The fourth is the lack of high-end pure electric products. Seeing that the salon brand started a high-rise building and launched a mecha dragon with a guide price of nearly 500,000 yuan, it was also full of guests at that time, and the scenery was unlimited, but then there was the news of delayed delivery, and there has been no large-scale delivery so far. The good news is that Great Wall and BMW's MINI EV product is on the way, and it is expected to be launched this year, when it will compete directly with Geely's smart.
Fifth, the resource tilt of lemon hybrid is obviously insufficient. BYD's DM-i technology is now deeply rooted in the hearts of the people, in addition to the first-mover advantage, BYD has carried out a lot of publicity on it, in the perception of most consumers, BYD is DM-i, DM-i is BYD. In addition, Geely has also spent a lot of effort to promote its Thor hybrid technology, such as the extreme speed of the high ring brush, and BYD's capture of fuel consumption PK, which has improved its visibility on the consumer side. In addition to the subjective execution factors, the objective reason is that there is no big hit model equipped with this set of power, and the sales performance of models such as Thunder MAX and Raptors is not as expected, which makes the splash caused by lemon hybrid extremely limited. to boost sales, suffering from no voice; Raising the volume, but without sales support, Great Wall Motors wants to get rid of this cycle in 2024.
Full text summary
Great Wall Motor's answer sheet in 2023 is generally satisfactory, Wei Jianjun said at an industry conference at the end of last year"I can't make money, almost no one in China can make money from cars, and our finances must be real. ”The industry generally believes that 2024 will be more volatile, and we will wait and see whether Great Wall Motors, which has completed the "jump", can usher in a "take-off" in the new year. Great Wall Motors