Sales Fall Again In September At China SUV Leader Great Wall

Sales lagged again in September at China’s once high-flying SUV leader Great Wall Motor as consumers shifted their gaze to EVs sedans.

Great Wall’s overall vehicle sales totaled 93,642 units, down 6.4% from the same month a year ago. Sales of flagship Havel SUVs slid 1.1% to 53,900.

For the first nine months of 2022, Great Wall’s sales declined by 9.2% to 802,313 vehicles. The worst of that fall occurred in a rough second quarter when China’s Covid-19 lockdowns were the toughest so far this year.

Great Wall’s Hong Kong-traded shares have lost nearly 75% of their value in the past year. New Covid-19 lockdowns in Shanghai this month have cast a shadow over the country’s economic outlook in the fourth quarter.

Chairman Wei Jianjun is still worth $12.5 billion on the Forbes Real-Time Billionaires list today.

EV makers BYD, NIO, XPeng and Li Auto and all reported sales increases in September from a year earlier.

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