Great Wall Motors to Enter Hong Kong and Macao Markets
On August 2, Great Wall Motors (GWM) and automobile retailer Inchcape Group announced that they have entered into a partnership involving the joint development of the new energy vehicle markets in Hong Kong and Macau.
As a well-known automobile agent, Inchcape Group has been operating in China for more than 55 years, and has served as the general agent of several electric vehicle brands in both Hong Kong and Macao.
“With its sales network spanning many regions around the world, Inchcape is an excellent partner,” Tony Sun, Deputy General Manager of GWM International, adding that GWM is committed to investing resources in the R&D of new energy and new technologies, and hopes to expand its business in different regions of the world. With GWM’s globalization strategy and the launch of new products, this cooperation with Inchcape in Hong Kong and Macao is of strategic significance.
As the pioneer of GWM in the field of new energy, ORA will take the lead in entering the Hong Kong and Macao markets with its products through Inchcape’s distribution network, and poor sales may also be the main motivation for ORA to seek overseas markets. In June, ORA’s total sales volume was 11,500 vehicles, a year-on-year increase of only 6.7%. GWM has revealed that ORA will also enter the UK, Australia, South Africa, Malaysia and others.
Up to now, GWM has exported to more than 170 countries and regions around the world, with nearly 700 overseas sales channels. In June, GWM’s overseas sales volume was 13,451 vehicles, accounting for 13.3%. In the first half of 2022, its cumulative overseas sales volume reached 62,900 vehicles, accounting for 12.1%.
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In June, GWM’s new energy vehicle sales totaled 12,700 units, with a total penetration rate of 12.5%. In the first half of 2022, its cumulative sales volume was 518,500 units, a year-on-year decrease of 16.1%. The total sales volume of new energy vehicles reached 63,600 units, with sales of its models above 200,000 yuan ($29,602) accounting for only 14%.