The Chinese automaker saw a 15% growth from the same month last year.
The coronavirus pandemic that devastated many international automakers does not seem to be affecting Geely that severely, as the Chinese automotive powerhouse has managed to shift 105,218 vehicles in the month of July 2020.
It is worth noting that the figure above also includes the sales of Lynk & Co vehicles as Geely has a 50% stake in that fledgling company. Of the 105,218 vehicles, Lynk & Co accounts for 15,331 of those, which incidentally is the brand’s highest monthly sales volume to date.
Of the 105,218 vehicles sold, only 0.06% (6,401) were electric or ‘new energy’ vehicles. That pitifully small number is nearly on par with the number of vehicles exported by Geely which stands at 4,523 in the month of July.
July’s sales figure for the Geely Group as a whole represents an approximately 15% increase in sales from the same period last year. However the news is not all rosy as this figure also represents a 4% drop from the sales in June.
The even more troubling news is that even this Chinese automotive giant has saw a drop in sales this year. Managing only 635,664 units in the first seven months of 2020, which is a 14% decrease from the same time period last year.
Based on the current trajectory, it is hard to predict whether the Geely Group will be able to achieve this year’s sales target of 1,410,000 units. Currently as it stands they are only 45% to that goal.
That being said, looking at other car manufacturers around, Geely seems to be surviving better than some others who are haemorrhaging money left, right and centre thanks to this pandemic.
More information can be found in the press release below:
Geely Automobile Holding Limited (Group) announced that the the total sales volume of the Group (including the sales volume of LYNK & CO-branded vehicles sold by the Group’s 50%-owned joint venture) for the month of July 2020 was 105,218 units, an increase of approximately 15% from the same period last year, but down approximately 4% from June 2020. Of the total sales volume in July 2020, 6,401 units were new energy and electrified vehicles. The Group’s exports volume was up around 13% year-on-year to 4,523 units in the month of July 2020. During the month of July 2020, the Group’s total sales volume in the China market was 100,695 units, an increase of around 15% from the same period last year. The total sales volume in the first seven months of 2020 was 635,664 units, a decrease of approximately 14% from the same period last year, and achieving 45% of the Group’s full year sales volume target of 1,410,000 units in 2020.
During the month of July 2020, the total sales volumes of sedans, sport utility vehicles (SUVs) and multi-purpose vehicles (MPVs) were 35,581 units, 66,387 units and 3,250 units, respectively.
During the same period, the total sales volume of LYNK & CO-branded vehicles was 15,331 units, up around 78% year-on-year and reaching the brand’s record high monthly sales volume.
