Great Wall Motor: Expanding Xushui Plant to increase production capacity
Aiming to expand Haval brand and maintain position as China's number 1 SUV producer
Great Wall Motor Co., Ltd. is an automobile group company that manufactures and sells passenger vehicles and commercial vehicles. Great Wall ranked 7th in 2015 for the number of vehicles sold in China (factory shipments), and holds the top sales volume among domestic manufacturers. While the top 6 automakers for sales volume in China are nationalized or government-owned corporations that have joint ventures with non-Chinese firms, Great Wall has not followed them in forming tie ups with foreign firms in China.
Great Wall was founded in 1984 in Baoding City, Hebei Province in northern China, and started as the "Great Wall Motor Manufacturing Plant," which initially focused on activities like the sale of automobile aftermarket parts. In 1990, after the current Chairman, Mr. Wei Jianjun, took up the post as the General Manager of "Great Wall Motor Industry Company," the company changed its business to automobile assembly. The OEM grew rapidly under Wei's strong leadership, and became successful in the production and sales of pickup trucks in the first half of the 1990's. In 2003 Great Wall became the first private company to be listed on the Hong Kong Stock Exchange (H-shares), and was also listed on the Shanghai Stock Exchange in 2011.
While Great Wall ranked 10th for annual sales volume in China in 2010, management resources were subsequently focused on the development of SUV models. Through the successive launch of these vehicles into the market, the company established their position as the "pioneer of SUV's" in China. Although its sales volume temporarily dropped in 2014, sales recovered in 2015 to 823,000 vehicles for an increase of 20.2% year-over-year (y/y). For worldwide sales (domestic and export), the company saw a y/y increase of 15.5% to reach 846,000 vehicles in 2015. Great Wall has set their worldwide sales target at 950,000 vehicles in 2016.
The percentage of SUV sales (domestic and export) of Great Wall in 2015 increased by 10.5% y/y to 81.9%, and the percentage was even higher at 83.7% in the first half of 2016. In 2015, Great Wall sold 93,000 pickup trucks in China, and has continually led the rankings for 18 years.
Great Wall Motor Vehicles Sales
|Total (In China)||313,527||383,402||525,949||695,677||684,445||822,735||405,733||448,063|
(Source: Created based on Great Wall Motor's Annual Report)