“Chinese cars” report that according to the results of last year, the profit of the concern, which includes Haval, Tank, Wey, Ora and others, increased by 80 percent compared to 2023. In China, GWM sales are falling since 2021, but exports have become salvation-its volumes over the past four years have increased 3.2 times-from 140 thousand in 2021 to 454 thousand in 2024. At the same time, the cost of one car for the domestic market is now 122 thousand yuan (1.43 million rubles), and the sale price is 152 thousand yuan (1.77 million rubles). That is, the margin is 19.9 percent.
In 2021, the cost of the GWM machine for the Chinese market was on average 86 thousand yuan (one million rubles), and the market price – 103 thousand yuan (1.2 million rubles), respectively, margin from sale – 16.5 percent. Things were worse with export cars: the cost of 99 thousand yuan (1.16 million rubles) at the sale price of 114 thousand yuan (1.33 million rubles), and margins – 12.7 percent.
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In 2024, the concern significantly improved these indicators, bringing the margin from the sale of one car in the domestic market to almost 20 percent. The cost of export cars has become equal to 145 thousand yuan (1.7 million rubles), the sale price is 178 thousand yuan (2.08 million rubles), and margin – 18.8 percent. It is worth noting that in 2023, the margin abroad was even higher-it reached 26 percent. Its reduction is associated with the introduction of new tariffs in Russia, which is a key export market for Great Wall Motor.
If we talk about profit from the sale of cars, then, according to the Chinese media, in 2024 it amounted to 9.375 billion yuan (109.4 billion rubles). Given that last year GWM sold 1.233 million cars, profit with one on average amounted to 7600 yuan (88.9 thousand rubles).
In 2024, Great Wall Motor received 40 percent of gross profit due to exports – this figure increased four times since 2021. The total gross profit amounted to 34.2 billion yuan (400 billion rubles). The company’s net profit last year is 12.69 billion yuan (148.4 billion rubles). This indicator is 80 percent higher than the one that the concern reflected in the financial report for the 2023rd.
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