Great Wall Motors reports 10.24% revenue increase for 2014
Great Wall Motors released its 2014 business performance report, showing total operating revenues of 62.6 billion yuan, a 10.24% increase year-on-year.
Chinese automaker Great Wall Motors (GWM) has announced its financial results for 2014. The company reported total operating revenues of 62.599 billion yuan, marking a 10.24% increase compared to the previous year. The net profit attributable to shareholders reached 8.042 billion yuan.
According to the company's report, the primary drivers for this growth were the optimization of its product structure and a continued focus on the SUV segment. GWM emphasized the development of cost-effective products and improvements in after-sales service, which contributed to increased SUV sales. The company noted that its net profit was affected by substantial investments made in research and development activities.
In 2014, Great Wall Motors sold a total of 733,000 vehicles and introduced several new models. These included the compact SUV Haval H2, the mini SUV Haval H1, and the larger Haval H9. The company also launched the Wingle 6 pickup truck. GWM plans to further expand its SUV lineup with new models such as the Coupe C, Haval H7, and Haval H8, aiming to become a leading global SUV brand.
Moving forward, Great Wall Motors intends to increase its investment in research and development for new energy vehicles and enhance the fuel efficiency of its traditional engine models. The company also aims to improve product quality through cooperation with international parts manufacturers and will continue efforts to enhance customer service levels across its sales network.