Recently, the performance of GWM has been very remarkable. While maintaining rapid growth in overseas sales, the profit growth brought by high-value models shows that its differentiated overseas market strategy has broad prospects.
Data shows that GWM sold 201,500 vehicles overseas from January to June, with a year-on-year growth of 62.59%. In June, 38,104 vehicles were sold overseas, achieving a new high in overseas sales volume in a single month. Meanwhile, while the overseas sales volume is rapidly increasing, GWM is expected to achieve a net profit attributable to the parent company’s owners of 6.5 billion yuan to 7.3 billion yuan in the first half of 2024, an increase of 377.49% to 436.26% compared with the same period last year; It is expected that the net profit attributable to the owners of the parent company after deducting non-recurring profit and loss will be 5 billion to 6 billion yuan, an increase of 567.13% to 700.56% compared with the same period last year. It is due to the company’s persistence in product category innovation and optimization of product lineups. The current product growth comes from the achievements made by high-value models and technological innovation.
Parker Shi, the president of GWM International, said, “GWM is a firm supporter of globalization. we will unswervingly adhere to the long-term development of overseas markets. The international market is a vast stage, and a local change cannot change the overall tide of globalization. At the same time, facing the challenges of escalating geopolitical tensions and rising protectionism in some countries, GWM focuses on avoiding risks and generating revenue through high value-added business, while adhering to differentiated competition to better adapt to the constantly changing environment.
In order to implement the global strategy of ecological development, GWM actively promotes the construction of “localization of production capacity”, transforming from product and trade development to manufacturing development, gradually forming a 1+3+N localized production pattern. In addition to the three main overseas full-process factories. In order to supplement overseas production capacity, GWM has successfully promoted multiple KD factory projects overseas. After the KD factory projects in Ecuador, Pakistan, Uzbekistan and Ghana have been put into production, multiple projects in Indonesia, Malaysia and other places will also be put into production within the year. These projects not only create local employment opportunities, but also expand the production layout of GWMs overseas, and better meet the needs of users in overseas markets.
In terms of products, GWM adapts its product layout to local conditions. Currently, GWM has achieved a product layout with multiple energy sources, multiple power sources, and multiple categories in the face of higher requirements for automobile enterprises to go global in the new era. It has been accelerating the pace of the introduction of new products and the development of new markets. For example, GWM HAVAL JOLION PRO was officially launched in Australia, South Africa and Saudi Arabia recently. As a dynamic and young urban SUV, it showcases excellent technological experience and driving quality. On the evening of June 29, HAVAL DARGO was launched in Uzbekistan, becoming the fourth model of GWM’s HAVAL brand in Uzbekistan and also the first light off-road SUV. It can not only meet the high-end luxury experience of driving in cities, but also be the best choice for outdoor play and off-road driving. On July 2, GWM unveiled its flagship store in Doha, the capital of Qatar, and launched a refreshed brand image, store image, and star family models. In addition, the GWM TANK 300 was officially launched in Malaysia. As the first off-road SUV launched by GWM in the Malaysian market, the TANK 300 has given Malaysian media, KOL, dealer partners and users a full experience of luxury off-road driving in the test drive at the M4TREC Malaysia 4WD Training Experience Center. It has won wide acclaim for its outstanding performance.
GWM has set a target of 500,000 overseas sales this year. Overall, GWM’s exports have entered a period of high-quality development and harvest. Considering the overall sales volume last year and the current growth momentum, we have reason to believe that it will achieve the growth target of going global in 2024.
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