China's top pickup truck maker Great Wall posts 24.5% profit fall

  • Great Wall sold almost 400,000 vehicles in the first six months this year, down 13% from a year earlier.
Great Wall Motors' Concept H
Great Wall Motors' Concept H

China's top pickup truck maker Great Wall Motor Co Ltd posted a 24.5% drop in first-half profit on Friday as the Covid-19 pandemic hit the world's biggest auto market.

The Baoding-based company, which has a joint venture with German luxury automaker BMW, said in a stock exchange filing it reported a 1.15 billion yuan ($167.53 million) net profit in the first half, down from a 1.52 billion yuan profit a year earlier.

Also check these Cars

Find more Cars
Mahindra Ekuv100 (HT Auto photo)
UPCOMING
BatteryCapacity Icon40 kWh Range Icon150 Km
₹ 8.25 - 10 Lakhs
Alert Me When Launched
Porsche 911 Gt3 (HT Auto photo)
Engine Icon3996.0 cc FuelType IconPetrol
₹ 2.50 Cr
Compare
View Offers
Mahindra S204 (HT Auto photo)
UPCOMING
₹ 12 Lakhs
Alert Me When Launched
Lexus Nx (HT Auto photo)
Engine Icon2494.0 cc FuelType IconMultiple
₹ 64.90 - 71.60 Lakhs
Compare
View Offers
Rolls-royce New Ghost (HT Auto photo)
UPCOMING
Engine Icon6750 cc FuelType IconPetrol
₹ 6.95 - 7.95 Cr
Alert Me When Launched
Mercedes-benz Amg E53 Cabriolet (HT Auto photo)
Engine Icon2999.0 cc FuelType IconPetrol
₹ 1.30 Cr
Compare

Revenue for the first half fell 13% to 35.93 billion yuan.

China's overall auto sales are slowly recovering from a virus-blighted start to the year.

Also Read : China's Great Wall Motor to use sensors made by AMS to build semi-automated cars

Sales in July climbed for a fourth consecutive month yet are still down 12.7% year to date.

Great Wall sold almost 400,000 vehicles in the first six months this year, down 13% from a year earlier.

Its sales of pickup trucks surged 38% due to new P-series models while sport-utility vehicle sales tumbled 20%.

Great Wall agreed to buy two plants in India and Thailand from General Motors and expects those transactions to be completed this year.

Rival Geely Automobile Holdings Ltd reported a 43% profit slide in the first half.

First Published Date: 28 Aug 2020, 15:24 PM IST
NEXT ARTICLE BEGINS

Check Latest Offers

Please provide your details to get Personalized Offers

Choose city
+91 | Choose city
Choose city

Want to get the best price for your existing car?

Powered by: Spinny Logo
By clicking "View Offers" you Agree to our Terms and Privacy Policy
Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.