The Hover is positioned as a CUV (City Utility Vehicle) model by Great Wall Motors. In Chinese, this refers to a multi-functional urban vehicle, also known as a crossover. In English, Hover is called Haval, which means free roaming. It is the first independently developed model of Great Wall Motors and achieved the myth of SUVs upon its launch. Despite being surrounded by many joint venture brands, it has maintained the highest sales volume to this day.
In terms of appearance, the Hover lacks the wildness of Great Wall's previous products. The body lines transition naturally, making the overall style much softer. The body panel workmanship has greatly improved, with the gaps in areas like the doors and engine hood becoming significantly smaller. The front face is one of the more distinctive aspects of the Hover's exterior, with the diamond-shaped headlights and unique grille bumper combination standing out prominently. Notably, although it is an SUV, the Hover's fuel consumption surprises many people. For diesel vehicles, especially those with the 2.5tci engine, most owners report an actual fuel consumption of only 7 liters per 100 kilometers. Some old owners even achieved a fuel consumption of 4 liters in fuel-saving competitions. For gasoline vehicles, mainly the 4G69 Hover, the actual fuel consumption is 10 liters per 100 kilometers. Recently, the most popular model has been the diesel 2.5tci Hover. Thanks to the high-tech engine jointly developed with Bosch Germany, the fuel consumption has significantly decreased, and the noise level is comparable to that of gasoline vehicles. Therefore, the prospects for this car are very promising.
The overall performance of the Hover has comprehensively surpassed all previous products of Great Wall Motors, marking a transformational work for the company. It's evident that the manufacturer has begun shifting strategic priorities, gradually moving towards mid-to-high-end product series.
In 2009, Great Wall Motors re-planned its SUV products. According to the plan, the Hover will be divided into three major categories: small, medium, and high-end. The small and medium Hover falls under the M series, the medium Hover under the H series, and the high-end Hover under the S series. This rebranding has greatly promoted the market sales of the Hover brand. At Great Wall's 2010 marketing conference, the Hover was identified as the mainstay product of Great Wall Motors, aiming to secure the national championship in SUV sales.
On December 20, 2011, the 600,000th Hover was officially handed over!
For Great Wall Motors:
Basic Overview
Great Wall Motors Co., Ltd. is China's first large private automobile enterprise listed on the Hong Kong H-share market. It has more than 30 wholly-owned subsidiaries, over 42,000 employees, and its current product range covers three major categories: Hover SUVs, Tengyi sedans, and Fengjun pick-up trucks. It possesses independent supporting capabilities for core components such as engines and transmissions.
Great Wall Motors has twice been selected for the Forbes China Top 100 Enterprises list; it has consecutively ranked among the top 500 most valuable brands in China for four years; it has been rated as the most valuable automotive listed company and the best-performing automotive listed company in China; it is a recommended export brand by the China Chamber of Commerce for Machinery, Electronics, and Information Products, and it is a national automobile whole-vehicle export base enterprise recognized by the Ministry of Commerce and the National Development and Reform Commission.
Since 2004, it has successively been selected for the top ten private listed companies, the top 500 enterprises in China, the top 500 machinery enterprises in China, the top 500 manufacturing enterprises in China, the top 500 industrial enterprises in China, and the top 30 automobile industry sales revenue enterprises in China.
In 2011, it was awarded as one of the top 30 main operating revenue enterprises in the Chinese automobile industry, again selected as one of the top 500 enterprises in China, and Great Wall Motors was honored with the China Famous Trademark.
Sales and Operating Status in 2010 (Chinese Standards)
Great Wall Motors operates prudently with a solid foundation, with total assets reaching 23.7 billion yuan and net assets of 10.4 billion yuan. In 2010, the group's turnover reached 23 billion yuan, and its growth potential has been recognized by the international capital market, with Great Wall stocks being highly sought after by Hong Kong and international investors.
In 2010, Great Wall Motors sold a cumulative total of 360,000 units, an increase of 73%, far exceeding the average growth level of the entire industry, making it one of the brands with the highest increment and fastest growth rate. Among these:
Hover SUVs sold 140,000 units, an increase of 135%
Tengyi sedans sold 120,000 units, an increase of 76%
Fengjun pick-up trucks sold 100,000 units, an increase of 31%.
Great Wall Motors (2333.HK) 2010 Annual Report (Hong Kong Standards)
Recently, Great Wall Motors (2333.HK) announced its 2010 annual report, showing leading operating quality and performance among domestic auto manufacturers.
The post-tax profit attributable to the parent company shareholders of Great Wall Motors was 2.698 billion yuan (RMB), an increase of 163.7%; pre-tax profit reached 3.039 billion yuan, an increase of 226.1% year-on-year; the revenue of the stock company reached 22.175 billion yuan, an increase of 78.9%.
Earnings per share (calculated based on the number of shares outstanding before capitalization) rose from 0.93 yuan last year to 2.46 yuan, an increase of 164.5%.
As of December 2010, the company's total assets reached 23.8 billion yuan, and net assets exceeded 10 billion yuan.
Market Position of Three Major Categories
Great Wall Motors has consistently maintained a leading advantage in both domestic and international markets, maintaining the highest number of automobile exports and export value in China for many consecutive years. In 2009, four main models passed the EU Whole Vehicle Type Approval, which was the first for domestic auto brands.
In the Hover SUV category, it has continuously maintained the highest sales and export volume among domestic brands for eight years. Currently, the main products include the medium-sized H series and the small-sized M series. In January of this year, famous driver Zhou Yong drove the Hover SUV to participate in the Dakar Rally again, ultimately achieving the first place among the Chinese team and the 22nd overall.
In the Tengyi sedan category, each model under its umbrella has its own characteristics, establishing a good reputation in the industry. In January of this year, the Tengyi C30 won the title of China's Best Compact Passenger Car in 2010.
In the Fengjun pickup truck category, it has continuously maintained the highest sales and export volume in the country for 13 years. It has formed multiple specifications at high, medium, and low levels, demonstrating unique competitiveness in competition with international pickups.
Main New Models Launching This Year
A total of six new models will be launched in the second half of 2011:
Three Hover SUV models, including two facelift models and one completely new model. The main products include: 2012 Hover H5 European Style Edition, 2012 Hover H5 Supreme Navigation Edition, Mid-to-High-End Urban SUV Hover H6.
Three Tengyi sedan models, including one facelift model and two completely new models. The main products include: 2012 Tengyi C30, Tengyi C20R, Tengyi C50.
Hover H6: A mid-to-high-end urban SUV produced at Great Wall Motors' world-class factory in Tianjin. It is equipped with a fuel-efficient, powerful 1.5L turbocharged gasoline engine, as well as 2.0L and 2.4L gasoline engines, and the Green Silent 2.0T turbocharged direct-injection diesel engine. It is matched with 5-speed and 6-speed manual transmissions, and a 6-speed automatic transmission, planned for release in the second half of the year.
Tengyi C50: A completely new sedan produced at Great Wall Motors' world-class factory in Tianjin. It will be equipped with 1.5L and 1.5L turbocharged gasoline engines, especially the 1.5L turbocharged engine with a maximum power of 98kw and a maximum torque of 188Nm, making it the first domestic small-displacement turbocharged model. It will be matched with a 5-speed manual transmission, a 4-speed automatic transmission, and a CVT continuously variable automatic transmission, expected to be released within the year.
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