Exports, EV demand drive Geely sales gains

Geely Automobile Holdings has maintained sales growth this year on exports and demand for electrified products.

July deliveries at the major private Chinese carmaker rose 13 percent to 138,135, according to filings on the Hong Kong Stock Exchange.

Geely’s exports last month surged 56 percent to 20,482. 

Developing countries are the main overseas markets for Geely’s vehicles, though the company also markets China-made vehicles under the Lynk & CO premium brand in Europe. 

In July, Geely sold 28,145 EVs and 12,869 plug-in hybrids under various brands, a 27 percent jump and 30 percent from a year earlier. 

The EV sales growth was led by the company’s smart brand Zeekr, with deliveries spiking 140 percent to 12,039 last month.

In the first seven months, sales at Geely advanced 13 percent to 832,180. During the 7-month period, the company’s exports jumped 41 percent to 141,667 while EV deliveries rallied 52 percent to 163,921.

Geely aims to boost 2023 global sales 15 percent to 1.65 million.