Zhejiang Geely Holding Group (Geely Holding) announced today that aggregate sales across its three automotive subsidiary units – Geely Auto Group, Volvo Car Group and Geely New Energy Commercial Vehicle Group– reached over 2.178 million units in 2019. Despite a global market downturn, brands under Geely Holding maintained their momentum through 2019. New energy vehicles saw especially strong growth with 167,507 green passenger and commercial vehicles sold by Geely Holding brands in 2019, a 50.6% increase from the previous year.
The brands managed under Geely Auto Group, including Geely Auto, LYNK & CO, Geometry, PROTON, and Lotus found stability in a challenging market environment throughout 2019. The Group maintained a balanced product development matrix with SUVs and crossovers making up slightly above 50% of all vehicles sold, while sedans and MPVs made up the rest. At the same time, Geely Auto Group’s combined sales of electrified vehicles, including pure electric, plug-in and mild hybrid vehicles grew by 68.5% to 113,067 units, showcasing the Geely Auto Group’s commitment to providing green vehicles.
In spite of a downturn in China’s automotive market, Geely Auto’s Hong Kong listed holding company including Lynk & Co and Geometry reported 2019 sales of 1,361,560 units. Over the past 12 months, the Geely Auto brand saw its market share grow and retained its position as the best-selling Chinese brand for the third consecutive years. Over the past five years, Geely Auto has become leaders on the product and sales level. In the next five years, Geely Auto aim to become leaders on the brand and technology level.
Geely Auto Group’s premium brand, Lynk & Co second full year of sales reached a new high of 128,606 units, an increase of 6.4% YoY. Lynk & Co’s improving sales during a global economic downturn shows that the market has fully affirmed the strength of the brand and its products. In 2020, the brand will officially enter the European market, opening up a new chapter in the Group’s global development.
In 2019, Geely Auto Group launched its standalone high-end pure electric brand Geometry and its first model, the Geometry A. The brand has committed itself to launching a new pure electric model every year and is preparing to launch their second model codenamed GE13 in 2020.
PROTON Cars managed under Geely Auto Group as part of a 49.9% partnership with DRB-HICOM saw significant progress in their revitalization with the brand returning to second place in their market with total sales of 100,821 units in 2019, a 55.7% YoY increase. The Malaysian national brand’s success was fueled by the popularity of their Proton X70 SUV based on Geely Auto’s best-selling Bo Yue model (X7 Sport and Atlas in global markets) and their newly updated lineup. Local production of the PROTON X70 is set to begin in 2020 along with the launch of new jointly developed models.
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