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Geely’s revenue surges, sells over half million vehicles in 1H17

Moscow International Automobile Salon 2016

Syndicated News
Written by Syndicated News

KUALA LUMPUR, Aug 17 2017 : China’s Geely Automobile Holdings posted stellar financial results for the first half of this year (1H17) with revenue surging 118 per cent to RMB39.42 billion (RM25.30 billion) from the same period last year.

Profit jumped 128 per cent to RMB 4.344 billion in 1H17, while the gross profit margin was up eight per cent to 19.2 per cent previously, said Geely Auto in a statement, issued by Proton Holdings Bhd here today

A total of 530,627 vehicles were sold in 1H17, an 89 per cent hike from the same period last year. 

“Geely Auto remains to be on track to reach their adjusted annual sales target of 1.1 million units with new models launched and planned for launch in the second half of the year,” the company said.

Among the Generation 3.0 vehicles, the Bo Yue SUV, Emgrand GS, and Vision SUV sold a total of 233,482 units.

Geely Auto said its Bo Yue SUV, the largest SUV it currently sells, was a strong performer with sales shooting up by 509 per cent to 116,932 units against the same period last year.

For sedan segment, the car company sold 292,314 units in 1H17, among which 117,718 was the New Emgrand, 45,486 was the A+ segment Emgrand GL, and 16,404 for the Geely GC9.

In the new energy market, the Emgrand EV sold 7,982 units in the 1h17, becoming one of China’s best-selling EV models.

Geely Auto continued to maintain a strong balance between the development of the sedan and SUV segment, increasing its market share in the China market to five per cent.

Geely Auto’s parent company, Zhejiang Geely Holding Group, acquired a 49 per cent stake in Proton from DRB-Hicom earlier this year. – Bernama

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