Dongfeng Motor Group recently announced on the Hong Kong Stock Exchange that the company’s revenue in 2023 would be 99.315 billion RMB, a year-on-year increase of 7.2%. The loss attributable to shareholders in 2023 will be approximately 3.996 billion RMB, a decrease of approximately 14.261 billion RMB from the profit attributable to shareholders of approximately 10.265 billion RMB in the same period last year.
It is learned from the report that Dongfeng Group achieved sales of approximately 2.0882 million vehicles in the current period, a year-on-year decrease of approximately 15.3%, sales revenue of approximately RMB 99.315 billion, gross profit margin of 9.5%, and losses attributable to shareholders of approximately RMB 3.996 billion.
Among them, Dongfeng Group’s independent passenger car business sold approximately 347,400 units, a year-on-year decrease of 30.2%. The sales structure and income level continued to improve, and the gross profit margin of the independent passenger car business increased by 3.1 percentage points; due to the survival space of the joint venture non-luxury passenger car market Affected by the severe squeeze and continued decline in market share, the group’s joint venture business adopted flexible business policies and pricing strategies to actively recover from the impact of the continued decline in the joint venture’s non-luxury market share. The sales volume of the joint venture business in this period was approximately 1.3974 million units, a year-on-year decrease About 156%.
In addition, Dongfeng Group’s commercial vehicle business sales in the current period were approximately 343,400 units, a year-on-year increase of approximately 10.3%. Sales of new energy vehicles were approximately 348,000 units, a year-on-year increase. The sales volume of the high-end brand Voyah stood at 50,000 units, a year-on-year increase of 159.1%, with a transaction price of more than 250,000 RMB; the new model Warrior 917 sold more than 1,000 units, with a transaction price of more than 700,000 RMB, and Yijie sold 75,000 units.
Dongfeng Group stated that its overall sales target in 2024 is 2.7 million vehicles, an increase of approximately 29% compared to 2023 sales. With the continuous optimization of the group’s strategic layout, transformation breakthroughs, brand improvement, and the orderly and gradual launch of new models, the passenger car sales target is 2.28 million units, a year-on-year increase of 30%. As the group’s commercial vehicle business integration accelerates, the layout of gas vehicles, new energy vehicles, and high-horsepower models gradually shows strength. The commercial vehicle sales target is 420,000 units, a year-on-year increase of 22%.
