China Auto Daily丨GWM's Haval Offers Up to RMB 40,000 Fixed-Price Discounts

China’s NEV Retail Sales Hit 690,000 Units in Feb, 50% Penetration Rate

March 16 — China’s new energy vehicle (NEV) retail sales surged to 690,000 units in February, achieving a 50% market penetration rate, according to Cui Dongshu, Secretary-General of the China Passenger Car Association (CPCA). NEV exports rose 28% YoY to 118,000 units, driven by robust global demand. Cui noted that competitive pricing and government incentives continue to fuel private NEV adoption, solidifying the sector’s role as a “pillar of consumption growth.”  

GWM’s Haval Rolls Out "Fixed-Price" Promotion with Up to RMB 40,000 Discounts

March 16 — Great Wall Motors (GWM) announced a nationwide “no-haggle” pricing campaign for its Haval SUV lineup, effective March 14 to April 30, including H5, H6, H7, H9 and the Raptor. For example, the Haval H7 PHEV starts at RMB 122,800 (USD 18,900*), while the gasoline variant begins at RMB 105,800 (USD 16,300*), inclusive of cash rebates and manufacturer trade-in subsidies.

CATL Reports 2024 Net Profit of RMB 50.7B, Up 15% YoY

March 14 — Contemporary Amperex Technology Co. Limited (CATL) disclosed 2024 revenue of RMB 362.01 billion (USD 55.7 billion*), down 9.7% YoY, while net profit climbed 15% to RMB 50.745 billion (USD 7.81 billion*). The battery giant sold 475 GWh of lithium-ion batteries globally, up 21.79% YoY, including 381 GWh for EVs (+18.85% YoY) and 93 GWh for energy storage systems (+34.32% YoY).  

*Exchange rate: RMB 6.5 = USD 1 (as of March 16, 2025).