2020 January 06, Hangzhou, China. Geely Automobile Holdings Limited (Geely Auto) has reported that December 2019 sales (including sales of Lynk & Co-branded vehicles sold by the Group’s 50% owned joint venture) reached 130,036 units, a year-on-year increase of 39.3%. Cumulative sales in 2019 reached 1,361,560 units, beating the 2019 revised annual target. In spite of a downturn in China’s automotive market, Geely Auto has seen its market share grow and retained its position as the best-selling Chinese brand for three consecutive years.
In 2020, Geely Auto will continue to implement its high-quality development strategy with stability as a focus and set its annual target for 1.41 million units, a 3.6% increase from 2019.
In 2019, the sales of Geely’s new energy vehicles increased significantly with annual sales of 113,067 units, a year-on-year increase of 68.6%, 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%. Geely Auto has accelerated its expansion in overseas market and improved its global brand image and reputation.
Under the dual pressure of a global economic downturn and adjustment in the automotive industry, China’s domestic auto market declined sharply in 2019. Geely Auto maintained its strategic advancement, actively strengthened its global competitiveness, improved its product lineup, led the industry in high-quality development, and exceeded its annual sales target of 1.36 million units. Since 2017, Geely Auto has continued to maintain its position as the best-selling Chinese auto brand in the world.
In 2019, with the launch of the “high-end pure electric brand” Geometry, Geely Auto Group has committed to a three-prong product development strategy through Geely Auto, Lynk & Co, and Geometry. The product matrix of these brands has continued to be upgraded in the direction of high quality, high tech, high value. 2019 was a product-centric year with the launch of a number of new models including the 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.
In particular, the total sales in the SUV segment in 2019 reached 709,841 units, accounting for 52.1% of Geely Auto’s total sales for the year.
Geely Auto premium brand Lynk & Co sold 10,807 units in December, setting a new monthly record for 2019. Throughout 2019, 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% year-on-year. The market has fully affirmed the strength of the brand and its products.
Not only has products continued to improve, advancements throughout the whole Geely Auto ecosystem has helped the company achieve comprehensive high-quality development.
In 2019, Geely Auto Group became the official partner of the 2022 Asian Games in Hangzhou. Empowering the Asian Games with technology, Geely will showcase to the world a more humane and forward-looking mobility lifestyle in the future.
Lynk & Co highlighted “China Speed” as it became the team champion of the WTCR World Touring Car Championship. Their victory achieved a historic breakthrough for Chinese auto brands in the world’s top motorsport arena and opening a new chapter for Chinese motorsports.
Geely Auto Boyue SUV moved from being a popular Chinese SUV to a global classic and becoming one of China’s first global technology export.
PROTON X70, developed based on the Boyue SUV, became a sales champion in the Malaysian market and started local production, advancing PROTON’s own upward development.
Geely Auto’s Belarus joint venture plant, Belgee saw its 20,000th Geely Auto model come off the production line in 2019, a key milestone in Geely’s globalization.
Scientific and technological innovations are the driving force of an enterprise’s progress and development. Geely’s decade long 100 billion RMB R&D investments pays dividends in 2019.
In 2019, Geely Auto continued to make breakthroughs in new energy, intelligent drive, and smart connectivity technologies. Mass production of L2 level 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.
Over the past five years, Geely Auto has become leaders on the product and sales level. In the next five years, Geely Auto will become leaders on the brand and technology level. Technology and brand leadership will be key factors in Geely’s future success.
2020 will become a key year for Geely to advance its brand and technology. It will become the year of Geely architecture and products.
In 2020, Geely will launch 6 new products including the second BMA architecture based SUV from the Geely Auto, the “Icon,” a 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.”
In 2020, Lynk & Co will officially enter the European market and compete against world-class brands in Europe, a key milestone in Lynk & Co global development.
An Conghui, President of Geely Holding Group, CEO and President of Geely Auto Group said “The global automotive market is facing an unprecedented change not seen in over a century. Challenges and opportunities exist side by side. With the market as the battlefield, Geely Auto will take the user demand as a guide, products as our core, and market share as our goal. We will adhere to a high-quality development strategy, maintain our footing on the uncertain road, compete on technology and brand, accelerate our global expansion, push Chinese manufacturing up the global value chain, and raise the level of Chinese auto brand in the world.”