Geely Automobile Holdings says first-half net profits leap 54%

Shanghai (Gasgoo)- China's Geely Automobile Holdings Limited reported on August 22 that its first-half net profits soared 54% year on year to around RMB6.67 billion and total revenues (excluding Lynk & Co joint venture) surged 36% from the previous year to over RMB53.7 billion.

The company said such blooming profit performance mainly benefited from its lucrative product portfolio and elevated scale economy.

Geely Auto saw its Jan-to-June sales leap 44% over the same period last year to 766,630 units, completing 49% of its 1.58 million-unit annual sales target. It is worth mentioning that the majority of new models are planned to be launched in the second half of the year, thus the automaker still attained an impressive sales performance with only a few models rolled out. During the first six months, Geely brand launched the Borui GE and the Emgrand GSe crossover EV, and the Lynk & Co brand brought the Lynk & Co 02 to market.

In the second half of 2018, Geely Auto is about to launch such models as a new mid-sized Boyue SUV, an all-new A0-segment SUV, a new A-segment sedan with favorable fuel efficiency, two BEV (batter-electric vehicle) models and the upgraded or NEV versions of several existing models. Moreover, the Lynk & Co will roll out the Lynk & Co 03, as well as the plug-in hybrid versions of the Lynk & Co 01, 02 and 03.