Sales At China Billionaire’s SUV Maker More Than Doubled In 1st Qtr Amid Economic Recovery

Sales At China Billionaire’s SUV Maker More Than Doubled In 1st Qtr Amid Economic Recovery

Sales At China Billionaire’s SUV Maker More Than Doubled In 1st Qtr Amid Economic Recovery Photo

Shipments of motor vehicles by Great Wall Motor, China’s largest homegrown maker of SUVs, doubled in the first quarter as the world’s No. 2 economy continued its recovery from the Covid-19 outbreak, the company said Thursday evening.

Great Wall sold 222,728 of its flagship Havel SUVs in the first three months of 2021, an increase from 106, 205 a year earlier, presenting a 110% gain. Sales of all models, including trucks and sedans, totaled 338,798 vehicles during the period, an increase of 125%. (See details here.)

An improved outlook has helped the company’s Hong Kong-traded shares increase by nearly 5-fold in the past year. That has lifted Great Wall’s market capitalization to HK$311 billion, or $40 billion, putting it roughly the same league as Ford’s $49 billion.

Great Wall’s President Wang Feng Ying made the Jan.-Feb. cover of Forbes China, the Chinese-language edition of Forbes, and was a member of the magazine’s 2021 list of the most successful businesswomen in the country.

Im a senior editor and the Shanghai bureau chief of Forbes magazine. Now in my 20th year at Forbes, I compile the Forbes China Rich List. I was previously a…

Im a senior editor and the Shanghai bureau chief of Forbes magazine. Now in my 20th year at Forbes, I compile the Forbes China Rich List. I was previously a

Im a senior editor and the Shanghai bureau chief of Forbes magazine. Now in my 20th year at Forbes, I compile the Forbes China Rich List. I was previously a correspondent for Bloomberg News in Taipei and Shanghai and for the Asian Wall Street Journal in Taipei. Im a Massachusetts native, fluent Mandarin speaker, and hold degrees from the University of Vermont and the University of Wisconsin at Madison.

Im a senior editor and the Shanghai bureau chief of Forbes magazine. Now in my 20th year at Forbes, I compile the Forbes China Rich List. I was previously a correspondent for Bloomberg News in Taipei and Shanghai and for the Asian Wall Street Journal in Taipei. Im a Massachusetts native, fluent Mandarin speaker, and hold degrees from the University of Vermont and the University of Wisconsin at Madison.

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