Automotive News   |   Automotive News Europe   |   Autoweek   |   Automobilwoche

Automotive News China Newsletter
Register our free newsletter, sent each Monday and Thursday

     Automakers   Suppliers   Auto Show   Comment   Car Cutaway   Newsletters   Press Releases   Chinese Version   Register for Newsletter
  Contact Us:   Editorial   Advertising   Subscription Information   |   About Us   Media Kit
Home >> Automaker Email this story   Print this story
Geely first-half profit surges 54%
Automotive News China | 2018/8/24

Geely Automobile Holdings¡¯ net profit surged 54 percent to nearly 6.7 billion yuan ($978 million) in the first half of the year, reflecting strong sales and improved profitability of key products. 

In the first six months, unit sales advanced 44 percent to 766,643 vehicles, Geely said. The tally made Geely the largest domestic passenger vehicle maker in China.

Revenue jumped 36 percent to top 53.7 billion yuan in the first half, Geely said.

With the first two products Geely has launched under the premium brand Lynk & CO since December -- the 01 and 02 compact crossovers -- the average selling price of Geely¡¯s product mix rose 7 percent during the period. 

New models 
Geely aims to achieve annual sales of 1.58 million in 2018, an increase of 27 percent from 2017. 

It plans to introduce seven new models under the Geely and Lynk & CO brands and significantly expand its electrified vehicle lineup in the second half.

The Geely brand will launch an SUV, a subcompact crossover, a compact sedan, two full electric vehicles and the brand¡¯s first multi-purpose vehicle. Additional details about the new models are not available.

Later this year, Lynk & CO will introduce the plug-in hybrid variant of the 02 compact crossover. The brand will also start selling its third product, the 03 compact sedan, in both gasoline and plug-in hybrid versions. 

Geely now has five electrified vehicles under the Geely and Lynk & CO brands: plug-in variants of the Geely Rorui compact sedan, Geely Emgrand compact crossover and Lynk & CO 01 compact crossover; and EV versions of the Geely Emgrand compact sedan and Geely GS compact crossover. 

The company¡¯s target is to derive up to 90 percent of its annual sales from electrified models by 2020.

Geely is headquartered in the east China city of Hangzhou and listed in Hong Kong. Its parent, Zhejiang Geely Holdings Group, also owns Volvo Car Corp.

Related Stories
  • Geely shores up sales with new products
  •     --Published:2019/12/2
  • Daimler, Geely in talks to expand ties into 'bigger dimension'
  •     --Published:2019/8/2
  • Chinese automakers snap up British car designers
  •     --Published:2019/5/2
  • Lynk & CO to open stores in Europe in 2020
  •     --Published:2019/29/1
  • Geely to roll out 6 new models in 2019, report says
  •     --Published:2019/25/1
  • Under Geely, is Lotus poised to blossom?
  •     --Published:2019/18/1
  • Lotus cars to be 'Made in China' at new Geely plant
  •     --Published:2019/18/1
  • Geely denies report it sold Daimler shares
  •     --Published:2019/15/1
  • Geely sees sales growth evaporating as market struggles
  •     --Published:2019/8/1
  • Geely, Great Wall to add plants in China
  •     --Published:2018/21/12
  • Geely sales growth pace slows despite new products
  •     --Published:2018/11/12
  • Li Shufu's sky-high ambitions for Geely as mobility provider
  •     --Published:2018/9/11
  • Geely shores up sales on Lynk & CO volume
  •     --Published:2018/9/11
  • Lynk & CO 'gears' up for U.S.
  •     --Published:2018/30/10

    Our Newsletter Editions
    Automotive News China produces two email newsletters each week. You can sort your news by the articles highlighted in each of our newsletters here.

    Select your newsletter     


    Automotive News China
    Room 1303, Building 2, Lane 99, South Hongcao Road,
    Shanghai 200233
    Telephone: 86-139-1851-5816
    Fax: 86-21-6495-0895
    Home | Help Center | About Us | Privacy Policy | RSS
    Entire contents © Crain Communications, Inc.
    Use of editorial content without permission is strictly prohibited. All Rights Reserved.