Thursday, January 23, 2020
Geely Ends 2019 as Best-Selling Chinese Car Brand in the World
Geely Automobile Holdings Limited continues to maintain its position as the best-selling Chinese auto brand globally since 2017. With cumulative sales that reached around 1,361,560 units in 2019, Geely Auto has retained its Sales Champion title for the third consecutive year.
Amid the decline in China’s car sales Geely Auto managed to grow its market and remained as the best-selling Chinese brand.
In 2020, Geely Auto has set its annual vehicle sales target to 1.41 million units, a 3.6 percent increase from 2019. This, as part of Geely Auto’s efforts to continue the implementation of its high-quality development strategy with stability as a focus.
In 2019, the sales of Geely’s new energy vehicles (NEVs) increased significantly with annual sales of 113,067 units, a year-on-year increase of 68.6 percent, becoming a new driving force for Geely Auto’s high-quality growth. A total of 57,991 vehicles were exported in 2019, a year-on-year increase of 110.6 percent.
Under the dual pressure of a global economic setbacks and adjustment in the automotive industry, China’s domestic auto market experienced a significant drop in 2019. Despite this, Geely Auto maintained its strategic advancement, actively strengthened its global competitiveness, improved its product lineup, leading the industry in high-quality development, exceeding its annual sales target of 1.36 million units. Geely Auto also accelerated its expansion in overseas market and improved its global brand image and reputation.
2019 has been a product-centric year with the launch of the “high-end pure electric brand” Geometry. Among the new models that were launched are Geometry A, Jiaji MPV, Xingyue Coupe SUV, Lynk & Co 03+, and Boyue PRO, covering several market segments such as sedans, SUVs, and MPVs. Nearly 9 models saw sales over 10,000 units per month. The product matrix of these brands has continued to be upgraded in the direction of high quality, high tech, high value.
The total sales in the SUV segment in 2019 reached 709,841 units, accounting for 52.1 percent of Geely Auto’s total sales for the year. Meanwhile, Geely Auto premium brand Lynk & Co saw monthly sales of over 10,000 units for five consecutive months. The brand’s cumulative annual sales reached 128,606 units, an increase of 6.4 percent from the same period in 2018.
In 2020, Geely will launch 6 new products including the second BMA architecture based SUV from the Geely Auto: the “Icon,” the first mid-size SUV from Geely Auto, codenamed “VX11,” a new Coupe SUV based on the CMA architecture, the “Lynk & Co 05,” and the second pure electric model from Geometry, codenamed “GE13.”
Also this year, Lynk & Co will officially enter the European market and compete against world-class brands in Europe, a key milestone in Lynk & Co global development.
The future is looking brighter for Geely Auto this 2020 onwards amid its continued efforts to make breakthroughs in new energy, intelligent drive, and smart connectivity technologies in 2019. Mass production of Level 2 Autonomous Drive capable vehicles has spurred public adoption of the advanced technologies. A multi-faceted development approach to new energy is bringing users a green, intelligent, humane future mobility experience.
This year, Geely is seeing technology and brand leadership as key factors in Geely’s future success. 2020 will become a key year for Geely to advance its brand and technology.