Great Wall Motors sees record revenue in 2020

Great Wall Motors' total revenue hit a record high of 103.28 billion yuan ($15.95 billion) in 2020, up 7.35 percent year-on-year, said the country's largest SUV and pickup maker on Monday.

Its net profit surged to 5.39 billion yuan in the same year, soaring 19 percent from 2019, despite the COVID-19 that hampered production and sales of most companies in the auto industry.

Great Wall Motors delivered 1.11 million vehicles last year, up 4.8 percent year-on-year. It was one of the few Chinese carmakers that managed to hit their sales goals in the tough year.

China's overall vehicle market dipped 1.9 percent year-on-year in 2020, according to statistics from the China Association of Automobile Manufacturers. It was the third year in a row that vehicle sales had fallen in the country.

The carmaker said its achievements were attributed to its user-oriented approach, its focus on technology, and its transition from a Chinese carmaker to a global mobility provider.

It stepped up efforts in overseas markets in 2020. Great Wall Motors acquired plants in Thailand and India, and inked deals to rev up its investment in its existing facility in Russia.

The plant, with an investment of $500 million, started production in June 2019 in Tula, a city about 240 kilometers south of Moscow. It is the company's first wholly-owned overseas plant.

Wei Jianjun, founder and chairman of the carmaker, said going global is the only way for Chinese companies to grow stronger.

Great Wall Motors started to sell vehicles overseas in 1998, and now it has an international sales network of over 500 dealerships in over 60 countries and regions. Over the years, its accumulated overseas sales have totaled 700,000.

Established in 1990, the company has produced over 10 million vehicles.