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Geely Automobile Holdings announces 2018 results

Auto News - Published on Mon, 25 Mar 2019

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Geely Automobile Holdings, the listed arm of Geely Auto, announced its 2018 financial results. During the year, Geely Auto total revenue increased by 15% to CNY 106.6 billion as the group’s average selling price continued to improve, mainly driven by the improvement in product mix. Total net profit of the group grew 18% from CNY 10.74 billion in 2017 to CNY 12.67 billion in 2018 due to the increase in overall sales volume, higher average selling price, and improved profit margin during the year. After accounting for non-controlling interests, the net profit attributable to shareholders was up 18% from CNY 10.63 billion in 2017 to CNY 12.55 billion in 2018.

Geely Auto (including the sales volume of “Lynk & Co” vehicles sold by Geely Auto’s 50%-owned joint venture) sold a total of 1,500,838 units, an increase of approximately 20% from 2017. In addition, Geely Auto’s market share in China’s passenger vehicle market increased from 5% in 2017 to 6.2% in 2018, making the group the third largest passenger vehicle brand in China and largest Chinese passenger vehicle brand in the world.

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Posted By : Rabi Wangkhem on Mon, 25 Mar 2019
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