Great Wall Motor May Focus More on Mass-Market Segment Next Year -- Market Talk

Dow Jones12-03

0315 GMT - Great Wall Motor may have changed its strategy to focus on the more competitive mass-market segment next year instead of high-margin niche segments, Deutsche Bank analyst Bin Wang writes in a note. The company plans to launch a new hybrid SUV in 1H 2025 and a large off-road SUV in 2H 2025, Wang notes. The Chinese automaker expects Latin America to become a key volume driver for overseas volumes in 2025, he says. Great Wall Motor's Brazil plant will start production in mid-2025 and it has established a well-covered sales distribution network in the region, including 88 dealers in the Brazil market and 50 dealers in the Mexico market, Wang adds. The brokerage maintains a buy rating on the stock with a HK$14.70 target. Shares are last at HK$13.08. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

(END) Dow Jones Newswires

December 02, 2024 22:15 ET (03:15 GMT)

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