GWM expects 2023 sales to soar over 50%

Great Wall Motors, China's largest SUV and pickup maker, released on Thursday its 2023 sales goal of 1.6 million units, which would mark a 50.9 percent rise year-on-year.

The vehicle maker, headquartered in Baoding, Hebei province, said it will launch over 10 new energy vehicle models under its marques from Haval to Wey.

Great Wall Motors said it will speed up its global campaign. Last year, it sold 173,180 vehicles in overseas markets, up 21.28 percent year-on-year. The carmaker said its accumulative overseas sales have exceeded 1 million units.

Despite chip shortages and the lingering COVID, the carmaker sold 1.06 million vehicles in 2022. Its operating revenue for the year reached a record 137.35 billion yuan.

Its vehicles fetched 128,700 yuan ($19,086) on average, up 20.8 percent year-on-year, and models priced over 200,000 yuan accounted for 15.27 percent of its total sales in 2022, up 15.27 percentage points than the previous year.

Sales of Chinese-brand passenger vehicles jumped 22.8 percent in China last year amid Chinese car manufacturers' bid to upgrade products, industry data showed.

Last year, about 11.77 million domestic-brand passenger vehicles were sold, according to the China Association of Automobile Manufacturers. The market share of Chinese carmakers reached 49.9 percent, up 5.4 percentage points year-on-year.