Sales slowed in September at Chinese SUV leader Great Wall Motor when it turned its attention to EV sedans.
Total Great Wall vehicle sales totaled 93,642 units, down 6. 4% from the same month last year. Sales of Havel’s flagship SUVs fell 1. 1 to 53,900.
During the first nine months of 2022, Great Wall sales fell 9. 2% to 802,313 vehicles. The worst of this drop came in a difficult quarter, when Covid-19 lockdowns in China were the most complicated so far this year.
Great Wall shares traded in Hong Kong have lost nearly 75% of their price over the past year. New Covid-19 lockdowns in Shanghai this month clouded the country’s economic outlook in the fourth quarter.
Today, President Wei Jianjun still has $12. 5 billion on Forbes’ real-time billionaires list.
Electric vehicle makers BYD, NIO, XPeng and Li Auto reported an increase in sales in September last year.
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