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Geely Automobile Holdings Limited 2015 Sales up 22% YoY to 500,000+ Units

08/01/2016

January 7, 2016, Hangzhou, Geely Automobile Holdings Limited (“Geely Auto”) announced that the total sales volume of the company for the year 2015 was 509,863 units, an increase of 22%year-on-year, surpassing its sales target of 450,000 by 13%. The Group’s total sales volume for the month of December 2015 was 53,633 units, a decrease of approximately 2% over the same period last year, but up approximately 4% from November 2015. In December 2015 Geely Auto’s China sales remained strong with total sales volume up around 6% year-on-year to 52,821 units. The company’s exports volume was down around 84% year-on-year to 812 units in December 2015,due to uncertain political and economic environments in some of the Group’smajor export markets.


In 2015, Geely Auto continued to execute on commitments to product innovation, the introduction of breakthrough technologies, increased revenues and sales volumes, manufacturing efficiency and improved financial returns. A portfolio of increasingly popular models and stronger brand image helped maintain positive sales volumes, despite China’s weakening auto market.


Of particular note, Geely Auto’s GC9 (Borui within China), its latest B-segment sedan, set another record high with sales of 5,504 units in December 2015, an increase of around 1% from the previous month, and a healthy contribution to full-year sales of 32,570 units. The GC9 model was named “China’s Car of the Year for 2016”, representing the highest standards of technology, design, quality and craft in the B-segment among Chinese auto brands. The GC9 model also achieved the maximum five stars in C-NCAP Crash Test, wining significant recognition from customers, media and the industry.


Similarly,sales of Geely Auto’s “New Vision” – both the previous and new model of this mainstay compact - hit 13,189 units in the month of December 2015, up about 56% year-on-year. The new “Vision” is equipped with a 1.3T turbo charged engine and a G-Link interactive phone system, consolidating and enhancing Geely Auto’s position in the A-segment market.


Meanwhile,in December 2015, sales of the ‘New Emgrand’ reached 23,491 units. Aggregate sales of the ‘GX7’, ‘SX7’ and ‘GX9’, the Group’s Sport Utility Vehicles (SUVs), reached 5,139 units in the month of December 2015, comparable to sales in the corresponding period last year.


In addition, in November 2015 Geely Auto launched its new energy initiative, Blue Geely, which will see Geely Auto increase its focus on the development and sale of new energy vehicles, and move away from traditional combustion engine technologies. At the same time, Geely Auto launched its first pure electric vehicle, the “Emgrand EV” which is based upon the best-selling Emgrand series. The Blue Geely initiative sets an ambitious target with new energy vehicles expected to make up 90% of Geely Auto’s sales by 2020, of which 65% will be plug-in hybrid and hybrid vehicles, and 35% pure electric vehicles. At the same time, Geely Auto will push forward with research into hydrogen fuel cells and metal fuel cells to become a market leader in new energy, lightweight material technologies, and intelligent and connected systems. The Blue Geely initiative demonstrates Geely Auto’s long-term development direction and is a clear commitment to continuously developing and leading in new energy vehicles.


Geely Auto CEO and President, Mr. An Conghui, commented: “Geely Auto’s strong growth in 2015 amid China’s weakening auto market is testimony to our ongoing strategic transition, increased product strength and growing brand image. In 2016, Geely Auto will continue to push the frontiers in new technologies,deliver exciting product innovations and increase brand experience, to deliver refined, high-quality vehicles.”


Taking into account Geely Auto’s growing brand image and product pipeline, as well as our evaluation of the wider auto market, Geely Auto has set a full-year sales target of 600,000 units for the full year 2016, representing an increase of approximately 18% over 2015.

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