China

Great Wall Motor March Sales Rise 5%; H8 Unveiling Expected to Boost SUV Sales

This article was originally published on April 4, 2014 at 8:37 am

Summary:

  • Great Wall Motor (HK: 2333/ CH: 601633) reported it sold 68,042 cars in March, a 5% increase from same period last year.
  • The company sold 11,682 pickup trucks, 42,321 sport utility vehicles (SUV), and 14,036 passenger cars.

Why It Matters:

  • Ahead of the Beijing Auto Show on April 20, Great Wall Motor expects to launch three new SUV model, H2, H9, and H8. The H8 is expected draw attention as it represents the company’s initial foray into the high-end SUV market. The unveiling will also be scrutinized after a series of manufacturing setbacks that has pushed the launch back by three months.
  • Toyota (TM), Volkswagen, Ford (F), and General Motors (GM) currently dominate the SUV market in China.
  • China Investment Securities Co.’s suggests that investors may have previously overreacted to the production delay of the H8. The firm believes H8 sales are poised to top these lowered expectations and boost Great Wall Motor shares over the coming months.