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 expects profits to double in first six months
Automotive News China | 2017/7/14

Geely Automobile Holdings Ltd. expects net profits in the first half of this year will exceed 3.8 billion yuan ($570 million) ¨C more than double its net income in the year-earlier period.

In the first half of 2016, Geely¡¯s net income totaled 1.91 billion yuan.

The company attributes its profit surge to growing vehicle sales and a favorable product mix. Geely has enjoyed strong demand for a trio of crossover models and a new sedan introduced last year.

New models included the Boyue, Emgrand GS and Vision crossovers and the Emgrand GL compact sedan.

The four models, built on Geely¡¯s new vehicle platform, have starting prices ranging from 77,800 yuan to 119,800 yuan ¨C much higher than the company¡¯s previous product line.

In the first six months of 2017, Geely¡¯s vehicle sales jumped 89 percent year on year to 530,627 vehicles. Combined deliveries of the four models represented more than half of Geely¡¯s sales.

In the wake of explosive sales growth in the first half of the year, Geely is forecasting sales of 1.1 million vehicles this year, up 44 percent from 2016.

Geely, headquartered in the east China city of Hangzhou, is a subsidiary of Zhejiang Geely Holding Group Co.  That company also owns Volvo Car Corp.

Related Stories
  • Volvo to take stake in Lynk & CO
  •     --Published:2017/21/7
     
  • Geely hikes sales target after June deliveries soar
  •     --Published:2017/11/7
     
  • Qualcomm to supply infotainment chip for Geely lineup
  •     --Published:2017/4/7
     
  • Lotus cars may be built in China, Geely owner says
  •     --Published:2017/27/6
     
  • Volvo Cars relaunches Polestar as independent performance EV brand
  •     --Published:2017/23/6
     
  • Chinese carmakers declare war on foreign rivals
  •     --Published:2017/16/6
     
  • Geely deliveries surge behind robust crossover volume
  •     --Published:2017/9/6
     
  • Geely, a winner in China, faces uphill battle establishing itself overseas
  •     --Published:2017/2/6
     
  • Lotus can thrive under Geely
  •     --Published:2017/30/5
     
  • Geely to buy stakes in Malaysia's Proton, U.K. automaker Lotus
  •     --Published:2017/26/5
     
  • Geely Group takes 30% stake in Denmark's Saxo Bank
  •     --Published:2017/9/5
     
  • Geely deliveries surge behind new models
  •     --Published:2017/9/5
     
  • Geely to launch sales of its first plug-in hybrid this month
  •     --Published:2017/2/5
       
     
     

    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 | RSS
    Entire contents © Crain Communications, Inc.
    Use of editorial content without permission is strictly prohibited. All Rights Reserved.
    »¦ICP±¸06057291ºÅ