GWM's Q3 revenue up 29%

Great Wall Motors' operating revenue hit 37.35 billion yuan ($5.15 billion) in the third quarter, up 29.36 percent year-on-year, said China's largest SUV maker on Friday.

From January to September, its operating revenue totaled 99.5 billion yuan, up 9.56 percent year-on-year, and its net profit reached 8.15 billion yuan, up 64.8 percent year-on-year.

Both its revenue and its profit hit a new high, said the carmaker in its statement on Friday.

The carmaker sold 802,300 vehicles in the first three quarters this year, with 96,900 sold in overseas markets.

The average price of its vehicles sold in the first three quarters reached 124,000 yuan, up 20.7 percent year-on-year, as the carmaker is going upward in the automotive market.

Great Wall Motors has been scaling up its R&D investment. From January to September, the carmaker spent 8.54 billion yuan, up 67.74 percent, most of which was in the field of electrification and smart functions.