Great Wall Motor: Strong November Sales Amidst Sector Headwinds

Great Wall Motor Company US39137B1098

Great Wall Motor Company finds itself navigating a complex landscape. The Chinese automaker recently posted impressive November sales figures and continues to advance strategic growth plans. However, these positive developments are set against a backdrop of challenges, including issues at a key subsidiary and broader sector weakness that has impacted its share price.

In November 2025, Great Wall Motor reported a solid 4.57% year-on-year increase in total vehicle sales, reaching 133,216 units. A significant contributor was the strong performance of its New Energy Vehicles (NEVs), where sales surged 11.43% to 40,113 units. The company achieved a new milestone in international markets, setting a record with 57,309 units sold overseas—a substantial jump of 32.70%. Furthermore, sales of premium models priced above 200,000 RMB grew by 31.56%, highlighting a successful push into higher-margin segments.

Cumulative global sales for the first eleven months of 2025 hit 1,199,652 vehicles, representing a 9.26% increase compared to the same period last year. This performance allowed the company to surpass its previous record for this timeframe. Notably, by the end of November, Great Wall Motor’s lifetime global sales volume crossed the 16 million vehicle threshold.

Strategic Moves and a Subsidiary Setback

The company is actively pursuing several strategic initiatives. A proposed 2025 Employee Stock Ownership Plan (ESOP) is intended to enhance corporate governance and retain key talent over the long term, pending final approval at an extraordinary general meeting. At the Guangzhou Auto Show, Great Wall Motor showcased more than 30 vehicles, including the debut of its all-electric ORA 5 model. Media reports also indicate the automaker is planning its first European production facility, targeting an annual capacity of 300,000 units.

Conversely, reports have emerged concerning difficulties at Haomo AI, the company’s autonomous driving subsidiary. Operations are said to have ceased around November 23, 2025, with a dissolution process initiated. This follows earlier ambitions by Haomo AI to pursue a public listing in Hong Kong. Specifics regarding employee compensation arrangements have not been disclosed.

Sector Pressures and Share Performance

Great Wall Motor’s equity has recently faced pressure. By December 5, the stock had declined 1.67% for the month. This followed a steeper drop at the end of November, where shares fell 4.05% to HK$14.47 amid a broader industry sell-off.

While the overall Chinese auto market remained stable in November, the sector is approaching a potential inflection point. Regulatory authorities plan to phase out supportive policies, including the exemption from purchase tax, starting in 2026. This impending shift in the policy landscape is likely to influence market dynamics and investor sentiment toward automakers like Great Wall Motor in the months ahead.