Among its own brands, from the perspective of volume, Great Wall Motors is undoubtedly in the first-line camp. Through the continuous introduction of new brands and models, it has shown a good development trend, breaking through million sales for six consecutive years. As a listed company, Great Wall Motor Co., Ltd. recently released a performance report. So, how will its profits perform in the recent past 2021?
Total net profit of 6.781 billion yuan, an increase of 26.45% year-on-year
According to the official performance report, whether it is the total operating income or net profit of 6.781 billion yuan, Great Wall Motors has a considerable improvement over last year.
Based on the calculated operating income and net profit, Great Wall Motor's net profit margin last year was about 4.97%. In terms of profit margins, it has maintained the level of 5% in recent years. Among the mainstream car companies, it is a relatively normal level. It is worth mentioning that before 2016, the Great Wall will focus on SUVs, and its net profit margin has remained at 10%. Therefore, at that time, many media believed that they seized the development dividend period of SUVs.
The increase in profit was mainly due to higher sales, with Haval selling more than 770,000 vehicles for the year
In the performance report released by Great Wall, it was explained that the main reason for the year-on-year increase in net profit attributable to the shareholders of Great Wall Motors during the reporting period was the increase in vehicle sales. As we all know, Great Wall Motors has multiple sub-brands. Includes Haval, Great Wall Pickup, WEY, Euler and Tank.
Among them, the Haval brand has accumulated sales of 770,000,800 units in 2021, and the main model H6 sold about 370,000 units last year, continuing to rank first in the SUV sales list. However, it should be pointed out that compared with the peak period, the sales advantage of the Haval H6 compared to the opponent is not so large. On the one hand, due to the intensification of market competition, the other reason is that the overall price of the new generation H6 has increased.
Another model of the Haval brand, the big dog, also performed remarkablely. Officials said that sales in 2021 will be about 100,000 vehicles, with an average monthly sales of more than 8,000 units. Although this model looks square, it is not a product that focuses on off-road. At the same time, the price is 119,900-16.19 million yuan. It satisfies some consumers who like the hardcore appearance, but cannot accept the high fuel consumption of pure off-road vehicles.
The price of bicycles increased, and the tank brand delivered 85,000 units throughout the year
Great Wall's net profit last year has improved a lot, in addition to sales growth, another reason is the average selling price of bicycles has risen. According to the performance report, the average bicycle price of Great Wall Motor in 2021 exceeded 106,400 yuan, an increase of 14.50% year-on-year, which is in line with the trend of consumption upgrading.
Among them, the development of tank brands has attracted attention. According to the official, as the only model under the brand, the Tank 300 delivered 85,000 units throughout the year, and the market guidance price reached 195,880-308,000 yuan. For a new brand, this performance is undoubtedly outstanding. At present, it has occupied more than 50% of the market share of hardcore off-road vehicles.
It is worth mentioning that the high-end model tank 500 has opened pre-sale, and the pre-sale range is 335,000-39.5 million yuan. Its positioning is a medium-sized SUV, and in addition to its large size, the powertrain is particularly interesting. It is equipped with a 3.0T V6 turbocharged engine and a 9-speed automatic transmission.
In the new energy sector, there are also bright spots, that is, Euler. According to the performance report, 135,000 units were sold in 2021, an increase of 140% year-on-year. Among independent brands, this performance is already higher than that of Geely and Changan. At present, it has a number of models on sale, including Euler Good Cat, Euler Black Cat and Euler White Cat and Euler iQ. This year, models such as the ballet cat will also be launched.
Although Euler's sales have grown so highly, the brand's reputation has fallen in 2021. Its Euler Good Cat is not equipped with a Qualcomm octa-core chip, but an Intel quad-core chip, and the computing power of the two is obviously different. Therefore, it is more stuttering to use and has been complained about by consumers.
In the future, it remains to be seen whether it will have any impact on the sales of Euler and even the Great Wall.
Public opinion: Judging from the performance express, Great Wall Motor handed over a good answer sheet in 2021. Both operating income and net profit have achieved a year-on-year increase of more than 25%. However, it is worth noting that its high-end brand WEY, after the separation of the tank 300, its sales have declined significantly. The cumulative sales volume for the whole year was only 58,000 units, a year-on-year decrease of 25.65%, and its proportion in the total sales of Great Wall Motors decreased significantly. In addition, Ms. Feng Ying, vice chairman of Great Wall Motors, has resigned as an executive director of the company. In 2022, let's keep an eye on how Great Wall Motors will perform.