Great Wall Motor (601633): July sales rose 11% year-on-year.1% is still better than the industry

Great Wall Motor (601633): July sales rose 11% year-on-year.1% is still better than the industry
Event: The company announced its July 2019 sales announcement: In July 2019, the company achieved sales of 60,357 units, an increase of 11%.09%.The comments are as follows: Haval SUV sales of 42,888 units, a year-on-year increase of 15%: Haval SUVs performed better than the industry in July. According to the China Federation of Passenger Vehicles, passenger car manufacturers ‘wholesale data for July was -6%.Among them, Haval F7 sold 8,040 units in July, still contributing a major increase; Haval M6 sales rebounded to 5052 units, up to 105.28%.Haval H6 still sold over 20,000 to 23079 units, alternating -11.38%, down -14 from the previous month in June 2019.7%.In our opinion, the positioning difference between Haval F7 and H6 can make up for the H6 offset and still contribute to sales increase. The sales of WEY brand SUVs totaled 7,246 in July, an increase of 2 per year.3%: VV67 sold 4,636 vehicles in March, which is currently the main sales model of the WEY brand.VV5 + VV7 total sales of 2610 volumes, -60 per year.1%.On July 25, the VV6 2020 model was launched, with the main selling price stable at more than 150,000, and the VV6 Shepherd Dog Smart + Edition brought together many industry-leading smart technology 无锡桑拿网 functions.The continuous and iterative upgrade of WEY products not only highlights the company’s technological strength and car manufacturing level, but also enhances the Great Wall brand. Euler’s performance was sluggish, pickups narrowed, export growth was high: Euler sold a total of 2,071 vehicles in July, a sequential increase of 44.9%.Pickup trucks sold 8,075 units, an increase of -11 in ten years.1% (-19 before June.2%).Exported 7,403 vehicles, an increase of 69 in ten years.5%.The company’s Russian plant is gradually put into production, and sales are expected to gradually increase. We believe that after August 2019, the industry’s sales growth will significantly improve, and the vehicle segment is worthy of attention.First of all, the inventory is low. After the fifth quarter of China de-stocked, the overall inventory 北京桑拿洗浴保健 of the industry is currently low.According to the Automobile Dealers Association, the inventory factor of dealers in June 2019 was only 1.38, May was 1.65, the same period last year was 1.93.The upcoming “Golden Nine Silver Ten” will also promote manufacturers to increase wholesale volume.In fact, with a low base, according to the China Automobile Association, the growth rate of the wholesale volume of the passenger car industry in 2018 turned negative from July, expanded to more than -10% from September to October, and further expanded to -15% from November to Decemberthe above.Again, the high growth of retail in June 2019 confirmed that the demand for car purchases still exists. Apart from the retail disruption in July 2019, the subsequent months will continue to pick up. Risk reminder: the boom of the automotive market continues to decline, new models are less than expected