April sales at Great Wall Motor, China’s top homegrown SUV maker, plunged by 41% from a year earlier in April as Covid-related lockdowns in key mainland cities shook up the world’s biggest automobile market.
Great Wall’s overall vehicle sales only reached 53,777 units compared with 91,784 a year earlier, the company said in a filing on Monday. A 47% drop in shipments of its flagship Havel models led the decline. (See details here.)
Great Wall’s Hong Kong-traded shares have lost more than 73% of their value since Nov. 22. Chairman Wei Jianjun is still worth $11 billion on the Forbes Real-Time Billionaires list today. The Hong
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