Geely has also retained its title of the best-selling Chinese automaker for the fourth straight year.
Despite 2020 being a tumultuous year for many automakers, it looks as if Geely seemed to have fared remarkably well last year. Selling over the 1,320,217 Geely (and Lynk & Co) branded vehicles in the last 12 months, the Chinese auto giant has not only managed to surpass the sales target for the year, but has also retained the title of being the best-selling Chinese automaker for the fourth consecutive year.
Before any celebrations occur however, it is worth pointing out that this sales goal that was surpassed was actually the revised annual target, dialled down from the original figure after the pandemic really hit the auto world. Nevertheless, both Geely and its 50% joint venture company, Lynk & Co, had managed to reach some pretty significant sales milestones in 2020.
For Geely, 2020 marked the year it had sold its 10 millionth car since its foundation 23 years ago in 1997. For Lynk & Co on the other hand, last year saw the fledgling automaker sell its 400,000th car, with record-breaking sales for the last six consecutive months and its European market entrance being the cherry on the cake for the marque which was established just three years ago.
Speaking of international market expansions, Geely too has been on the ball with this matter in 2020. Reporting a year-on-year export growth of 25.3%, 72,700 new Geely cars made its way to buyers to markets such as Russia, Philippines, Kuwait, Saudi Arabia and Myanmar over the last 12 months.
As for new car launches by the Chinese auto giant in 2020, Geely brought out the new award-winning Preface sedan and the Xing Yue crossover. Both of which incidentally are based on the CMA platform that was jointly developed with Volvo.
Aside from that, the Geely ICON, also made its debut last year. Launched during the height of the pandemic in China, this new BMA-based SUV came complete with not only an N95-certified Intelligent Air Purification System, but also contactless delivery using drones to deliver keys to new owners of the car.
Looking forward into the future, Geely targets to sell 1.53 million new cars in the year ahead, an increase of 16% from the number of cars sold in the last 12 months. To that end then, the Chinese automaker is banking its hopes on a new CMA-based SUV, as well as several refreshed models in its existing lineup.
On the Lynk & Co front meanwhile, the unveiling of its first full EV, the Lynk & Co Zero, sometime in the last quarter of 2021 looks to be the biggest news that is to come from the marque for the foreseeable future.
PRESS RELEASE: Geely Automobile Holdings Limited (Geely) has reported that its December 2020 sales (including sales of Lynk & Co-branded vehicles sold by the Group’s 50% owned joint venture) reached 154,202 units, a year-on-year increase of 2%.
Geely Auto and Lynk & Co brands sales in 2020 reached 1,320,217 units, beating its 2020 revised annual target. In spite of a market shutdown in China’s automotive market during the first quarter due to the Covid-19 epidemic, both Geely Auto and Lynk & Co brands have seen their market share grow with Geely Auto retaining its position as the best-selling Chinese brand for four consecutive years.
In 2021, Geely Auto will focus on adjusting it product strategy, introducing new models and set its annual target for 1.53 million units, a 16% increase from 2020.
In 2020, the Geely Auto celebrated its 10 millionth vehicle sold, becoming the first Chinese brand to reach that historic milestone. Globally, Geely Auto has accelerated its expansion and improved its brand image and reputation. A total of 72,700 vehicles were exported in 2020, a year-on-year increase of 25.3%.
Pressured by a global epidemic and intensified competition in the automotive industry, China’s domestic auto market faced an immense challenge in 2020. Geely Auto continued expanding its role as the leading Chinese auto brand with an expanding market share, increased global competitiveness, and improved product lineup. Turning the challenge resulting from Covid-19 into opportunity, Geely Auto accelerated its digital transformation and redoubled its effort in driving development through innovation.
Over the course of 2020, Geely Auto has continued to introduce vehicles based on the Compact Modular Architecture that was developed in cooperation with Volvo Cars. To date Geely Auto has launched two CMA based vehicles – the Preface Sedan and the Xing Yue Crossover SUV, both of which offer leading levels of connectivity, intelligence, quality, and safety. In particular the Geely Preface became the first Geely Auto model to offer users Firmware Over the Air (FOTA) updates, enabling the model to continuously evolve and never be outdated.
As well as launching the Geely Auto’s first CMA based sedan, 2020 also saw the launch of the brand’s second B-segment Modular Architecture BMA-based SUV, the ICON. Launched at the height of the Covid-19 epidemic, ICON set a new trend for new vehicle launches with its fully digital launch ceremony and contactless delivery using drones to deliver keys to new owners. The ICON was also one of the first models in the world to receive a N95-certified Intelligent Air Purification System which helps protect users from harmful elements in the cabin air including bacteria and viruses.
In 2020, Geely Auto continued expanding its global presence with new models launched in Russia, Philippines, Kuwait, Saudi Arabia, and Myanmar. Despite a global pandemic which is still affecting many countries today, Geely Auto was able to grow in global markets due to the strength of its newest models and new dealership openings.
For Geely Auto’s 50% owned joint venture brand, Lynk & Co, 2020 was a milestone year with the brand officially entering the European market in October and unveiling its first fully electric concept model based on the new Sustainable Experience Architecture (SEA), the Lynk & Co ZERO ahead of the Beijing Auto Show in September 2020. Since its first model launched in late 2017, Lynk & Co has grown immensely gaining more than 400,000 users by end of 2020. The young brand has set new monthly sales records for the past six consecutive months.
In 2021, Geely will bring to market a variety of new high value models. The Geely Auto brand will unveil a new CMA-based SUV and sedan as well as several updated models. For Lynk & Co, in addition to the production version of the pure electric Lynk & Co ZERO, the first Lynk & Co model developed on the Scalable Product Architecture (SPA) will also be unveiled.
In the coming years, Geely Auto fully immerse itself in its Innovative Geely 4.0 era and develop new models based on Geely’s world-class BMA, CMA, SPA, and new SEA modular architectures. Through the utilization of these new modular architecture, Geely will be able to offer users a comprehensive product lineup covering multiple segments from compact to full size and powertrain from pure electric to hybrid to traditional gasoline power.
