Price cuts spur Great Wall to 9.5% sales gain

Great Wall Motor Co., China's largest crossover maker, reported May sales advanced 9.5 percent year on year to 71,636 vehicles after cutting prices on its models.
The company has cut prices several times this year to fend off rivals.
Great Wall's top seller, the Haval H6 compact crossover, now has a starting price of 88,800 yuan ($13,500), down 17,000 yuan from a year ago.
The strategy has worked. Last month, H6 demand surged nearly 25 percent from a year earlier to 37,435 vehicles. Meanwhile, deliveries of the Haval H2 subcompact crossover rose nearly 13 percent to 12,476 vehicles.
Behind those two models, Great Wall's sales of crossovers and SUVs totaled 61,793 vehicles in May, up nearly 13 percent from a year earlier.
For the month, Great Wall's pickup sales rose 6.1 percent to 8,123 vehicles. But sedan deliveries plummeted 42 percent to 1,720 vehicles as the company continued to cut sedan output to focus on crossovers.
Great Wall, a company listed in Hong Kong and Shanghai, sold 384,669 vehicles in the first five months, for an increase of 5.5 percent.
While price cuts propped up Great Wall's market share, the company's profits have suffered. Last year, Great Wall's net profit leveled off at 8 billion yuan.

Source:Automotive News China

2005-2014 All Rights Reserved 京ICP备05069564号-1 京公网安备1101054484号