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 Chairman Wei Jianjun ranked at No. 128 on the 2021 Forbes Billionaires List released this week with a fortune worth $15.8 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.