雷峰网·2025-07-25 00:39Core Viewpoint - Great Wall Motors aims to stabilize its market share in Russia while expanding its presence in South America and right-hand drive markets, with a target of 520,000 overseas sales by 2025, representing a 14.51% increase from 2024 [2][5][9]. Group 1: Overseas Sales Performance - In 2024, Great Wall Motors achieved overseas sales of 454,100 units, a year-on-year increase of 44.61%, accounting for 36.8% of total sales [3]. - The company’s overseas sales target for 2025 is 520,000 units, requiring a significant increase in sales performance in the second half of 2024 to meet this goal [2][3]. - The Haval brand is expected to contribute approximately 70% of the overseas sales target, while pickup models and the Tank brand will account for 10%-20% [3]. Group 2: Market Challenges - Great Wall Motors' performance in the Russian market is critical, with 2024 sales reaching 229,800 units, representing about 12% of the local passenger car market [5]. - The company faces challenges due to increased vehicle scrappage taxes in Russia, which have led to a 27.6% year-on-year decline in overall vehicle sales in the first half of 2025 [7]. - Despite a 21.5% decline in Haval brand sales in Russia, the company’s market share increased to 14% in Q2 2024, up 2 percentage points from the previous year [7]. Group 3: Strategic Expansion - South America, particularly Brazil, is identified as a key growth market, with sales in Brazil increasing from 11,300 units in 2023 to 29,200 units in 2024 [8]. - Great Wall Motors plans to establish a new factory in Brazil with an initial capacity of 50,000 units, aiming to cover the entire South American market [8]. - The company anticipates that South America and right-hand drive markets will collectively contribute 20% to its overseas sales by 2025 [8]. Group 4: Competitive Landscape - In the first half of 2024, Great Wall Motors ranked sixth in overall vehicle exports, with competitors like Chery and BYD leading the market with significantly higher export volumes [10]. - The company is under pressure to find new growth opportunities in other regions to achieve its ambitious sales target of 520,000 units, especially given the uncertainties in the Russian market [10].