20150623-MACQUARIE-长城汽车（2333）：SHARES_PUMMELLED_ON_SMART_MARKETING_MOVE-703879

As of mid-day Thursday，Great Wall Motor’s shares have sold off more than 10% over two days in a knee-jerk response to what in our view is a smart marketing move.It appears investors in the Hong Kong market have missed the point that if you want to attract customers，you promote your best-selling products，and not the duds，to attract traffic to your stores.As such，we see the price cuts GWM announced for the H2 and H6–its top-selling SUVs–as a brilliant market move.The cuts are only until the end of September，ending ahead of the 4Q peak selling season when GWM typically posts 30% of its sales.