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GWM October sales fall 15.87% despite record NEV and overseas volumes

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GWM October sales fall 15.87% despite record NEV and overseas volumes

GWM's (HKEX: 2333) October sales fell 15.87% year-on-year, the steepest decline this year, despite record new energy vehicle (NEV) and overseas sales.

The Chinese automaker sold 120,374 vehicles in October, up 4.72% from September, according to figures it released on Sunday.

This marked GWM's third consecutive month of declining year-on-year sales. The drop widened from September's 13.99% and was the largest since January 2025.

GWM sold 1,040,676 vehicles in the first 10 months of the year, down 2.42% year-on-year, compared with a 0.33% decline in the first 9 months.

The domestic market remained the main drag. GWM sold 57,512 vehicles in China in October, down 33.06% year-on-year but up 4.71% from September.

Its domestic sales have fallen year-on-year for 12 consecutive months. Sales in China totaled 501,837 vehicles in the first 10 months, down 25.66%.

Overseas business continued to provide support. GWM sold 62,862 vehicles overseas in October, surpassing August's record of 62,517 and accounting for 52.22% of total sales for the month.

However, year-on-year growth in overseas sales slowed to 9.98% from September's 19.40%, dropping to single digits for the first time this year. Overseas sales rose 4.74% month-on-month.

GWM's overseas sales totaled 538,839 vehicles in the first 10 months, up 37.69% year-on-year and already exceeding the 506,066 vehicles sold in all of 2025.

GWM sold 49,499 NEVs in October, up 7.25% year-on-year and 17.91% month-on-month, breaking the previous record set in October 2025.

12% of total sales for the month, exceeding 40% for the first time. 05% year-on-year.


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