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Monday, January 10, 2022

Geely's Full-Year 2021 Sales Rise, But Misses Target


Geely’s full-year 2021 global sales reached 1,328,029 units; an increase of 1 percent compared to 2020. While impressive, it is 13 percent lower than the group’s original 2021 forecast of 1,530,000 vehicles.

In December 2021, global sales stood at 158,765 units (3 percent increase year-on-year, up 17 percent from November 2021), of which 18,813 units (or 12 percent; up 162 percent from the same period last year) were new energy vehicles composed of hybrids, plug-in hybrids, and EVs. Export volume is also up 44 percent year-on-year to 17,125 units.

The most popular type of car is SUVs, with 90,966 units sold in December alone. That’s 57 percent of its total monthly sales, followed by sedans with 66,303 units (42 percent). The remaining 1 percent of sales (1,496 units) came from its MPV range.

Its jointly established brand with Volvo, LYNK & Co sold 220,516 vehicles throughout 2021, an increase of 26 percent from 2020. Meanwhile, Geely’s newest brand, Zeekr, sold 6,007 units. An impressive number given they only started delivering vehicles at the end of October. The group intends to start exports by 2023.

Geely’s board has set a sales volume target of 1,650,000 units for 2022, a 24 percent increase from its total sales in 2021.

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