Geely sales slump for 2nd straight month
Automotive News China
Automotive News | 2019-6-11
Geely Automobile Holdings, the largest domestic Chinese carmaker, reported sharply lower sales for the second consecutive month in May after posting a mild rebound in March. |
Last month, combined sales of the Geely mass-market marque and Lynk & CO premium brand fell 27 percent from a year earlier to 90,309 as it continued to reduce high dealer inventories, Geely Auto said Monday.
The Geely brand¡¯s May sales plunged 29 percent to 81,119 while Lynk & CO¡¯s deliveries were flat at 9,190.
In the first five months, Geely Auto delivered 560,805 vehicles under the Geely and Lynk & CO brands, a drop of 12 percent from the same period last year.
The steep sales declines in the past two months have made it hard for Geely Auto to realize its annual sales target of 1.51 million vehicles in 2019.
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