Recently, GWM has demonstrated outstanding performance. The company’s rapid growth in overseas sales, coupled with the profit growth from high-value models, indicates the promising prospects of its differentiated overseas market strategy.
Data reveals that GWM sold 201,500 vehicles overseas from January to June, marking a year-on-year growth of 62.59%. In June alone, the company achieved a record high by selling 38,104 vehicles overseas. With this robust increase in overseas sales, GWM is projected to attain a net profit attributable to the parent company’s owners of between 6.5 billion yuan and 7.3 billion yuan in the first half of 2024, representing an increase of 377.49% to 436.26% compared to the same period last year. Furthermore, the net profit attributable to the owners of the parent company, after deducting non-recurring profit and loss, is expected to be between 5 billion yuan and 6 billion yuan, reflecting an increase of 567.13% to 700.56% from the previous year. This growth is attributed to GWM’s continuous product innovation and optimization of its product lineups, particularly through the success of high-value models and technological advancements.
Parker Shi, President of GWM International, stated, “GWM is a steadfast supporter of globalization. We will unwaveringly commit to the long-term development of overseas markets. The international market offers a vast stage, and local changes cannot alter the overall trend of globalization. In light of escalating geopolitical tensions and rising protectionism in some countries, GWM focuses on mitigating risks and generating revenue through high value-added business, while maintaining differentiated competition to better adapt to the constantly changing environment.”
To implement its global strategy for ecological development, GWM is actively promoting the construction of localized production capacity, transitioning from product and trade development to manufacturing development. This strategy is gradually forming a 1+3+N localized production pattern, supplemented by multiple KD (Knocked Down) factory projects overseas. With successful KD factory projects in Ecuador, Pakistan, Uzbekistan, and Ghana, GWM plans to commence production in additional locations such as Indonesia and Malaysia within the year. These initiatives not only create local employment opportunities but also expand GWM’s production layout to better meet the needs of overseas markets.
In terms of product offerings, GWM tailors its product layout to local conditions. The company has achieved a diverse product lineup featuring multiple energy sources, power sources, and categories to meet the evolving requirements for global expansion in the new era. GWM is accelerating the introduction of new products and the development of new markets. For instance, the GWM HAVAL JOLION PRO was recently launched in Australia, South Africa, and Saudi Arabia, showcasing excellent technological experiences and driving quality. On June 29, the HAVAL DARGO was launched in Uzbekistan as the fourth model of the HAVAL brand in the country and the first light off-road SUV. It is designed to deliver both a high-end luxury driving experience in urban settings and an optimal choice for outdoor and off-road driving. On July 2, GWM unveiled its flagship store in Doha, Qatar, introducing a refreshed brand image, store design, and star family models. Additionally, the GWM TANK 300 was officially launched in Malaysia, where it received acclaim for its luxury off-road driving capabilities during a test drive event.
GWM has set an ambitious target of 500,000 overseas sales for this year. Overall, GWM’s exports have entered a period of high-quality development and substantial growth. Considering last year’s overall sales volume and the current growth trajectory, there is a strong reason to believe that GWM will achieve its global growth target for 2024.
