- Sales reached 96,158 units in October, highest sales to date
- Geely Auto has completed 79% of its new readjusted sales goal of 700,000 units
November 2nd, 2016. Geely Automobile Holdings (Geely Auto), the Hong Kong listed entity of Hangzhou based Geely Auto saw its sales grow by ninety-four percent in October 2016 – the highest month to month growth the company has seen in its nineteen-year history.
Total sales for Geely Auto reached 96,158 units in October alone, with sales riding high on 26% from September to October 2016 and also increasing by 94% in year to year comparison from October 2015 to 2016.
Total sales for the year to date reached 555,199 units, an increase of 37% over the same period in 2015 and achieving 79% of Geely’s revised sales goal of 700,000 units in 2016.
Sales By Model:
Geely’s New Emgrand continues to be an extremely strong selling vehicle, with sales reaching 25,015 units – an increase of 25% units in the month of October and up 14% year on year. The New Emgrand initially launched on the market in 2009 where it was called the Emgrand EC7 and was a regular on the China ‘Top Ten’ best-selling vehicle lists with it competing directly with international rivals.
In 2014 the New Emgrand was launched with heavily updated turbo powered drivetrains and increased connectivity options. To date the New Emgrand and its predecessor has sold over 1 million models, with the limited edition one millionth model being launched in early October and receiving strong sales across Geely Auto’s network.
Geely Auto’s flagship, the Geely GC9 – or Emgrand GT in certain export markets continues to be an unashamed star of the B-Segment with 4,938 units sold in October, the best selling domestic B-Segment sedan to date.
The Geely GC9 was officially unveiled in December 2014 and available on the market in April 2015, since its market launch nineteen months ago the Geely GC9 has always seen extremely strong demand both domestically and internationally and until date there have been no discounts available for this model.
Bo Yue SUV
The Geely Bo Yue SUV was launched in March 2016 with a strong sales momentum building month after month. Sales in October reached 16,779, an increase of 16% over September sales. The Bo Yue is now produced in two factories; Chunxiao, Ningbo, and Baoji, which give the Bo Yue a considerably faster delivery date for pre-orders which are currently over 110,000.
The Emgrand GS is Geely’s first urban crossover saw sales breaching 10,028 units, giving the GS six months of rising sales since its launch in May 2016 in China’s first automotive virtual reality launch.
The latest edition to the Emgrand family, the Emgrand GL reached sales of 7,050 units, a remarkable number for a freshly launched vehicle. The Emgrand follows on the legend which was set by the original Emgrand, but reintroduced with leading powertrain, connectivity, handling and styling.
The Vision SUV was the third SUV from Geely this year during its ‘Pivot to SUV’ strategy which will see Geely Auto use its strong footing in the sedan market to fully launch into the SUV segment. The Vision SUV saw sales reach 10,867 units in October, slightly above September’s figures but showing there is strong demand for the SUV.
Exports still remain a weak point for Geely due to the political situations in key markets such as Russia, Ukraine and as well as the wider Middle East. Exports reached just over 1,119 units in October. The situation is roughly the same for all Chinese brands that export to the region.
Frequently Asked Questions:
What are “Generation 3.0” vehicles?
Since Geely Auto was established as an automaker in 1997 the company has developed three generation of vehicles, the most recent is the ‘Generation 3.0’ of vehicles which were created under Geely’s brand promise “Make Refined Cars For Everyone” which was announced at the Geely GC9 launch in December 2014. The Bo Yue SUV, Emgrand GS, Emgrand GL and GC9 are all part of the “Generation 3.0” of vehicles.
What is Geely’s SUV Plan?
Geely launched its ‘Pivot to SUV’ strategy in March 2016 with the launch of the Geely Bo Yue SUV. Geely announced that it would use its strength in the sedan segment to gain a strong foothold in the SUV and crossover segments.
What is Geely Auto’s Sales Goal for 2016?
Geely Auto initially announced its 2016 sales goal as 600,000 units, however due to strong reception to its Generation 3.0 of vehicles the company adjusted its sales goal to 650,000 and then to 700,000 in the second half of 2016.
Why are export sales so weak?
Geely Auto has to date primarily focused on the Chinese domestic market and developing global markets. These developing markets are often at the mercy of political turmoil and currency fluctuations which makes development in these markets difficult.
Geely Auto has sufficient stock in many of its regional markets from local production or previous export volumes which are continued to be sold in these markets and hence do not require further exports.
Geely’s ‘Generation 3.0’ vehicles are already receiving strong feedback in Gulf states. The Geely Emgrand GT has already launched across the region, the Bo Yue SUV is expected to launch in certain markets from Q4 2016 onwards.
When do you expect export sales to return to normal?
Once political turmoil across the Middle East returns to normal we expect that demand will grow.
Is production capacity still a major issue?
Demand for our Generation 3.0 and legacy vehicles such as the New Emgrand continues to outstrip demand, however Geely is continually working to bring new production facilities online. The latest addition to Geely’s factory is the Bao Ji facility in Northern China.
When will LYNK & CO be available for sale?
LYNK & CO was launched on October 20th 2016 in Berlin to a global audience. The first product, a compact SUV called ‘01’ (zero-one) will be available in China in Q4 2017 with European and US market launches following shortly afterwards.
Sales goals for LYNK & CO?
Sales goals for the new LYNK & CO range are modest at 500,000 units globally from Q4 2017 to the end of 2020.