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Geely Automobile’s June sales drop 29.25% YoY, cuts 2019 sales target by 10%

Monika From Gasgoo| July 08 , 2019

Shanghai (Gasgoo)- Geely Automobile Holding (Geely Automobile, or the Group) announced on July 8 that its vehicle sales (including the volume of Lynk & Co-branded vehicles) in June edged up 0.63% over a month ago to 90,875 units as the Group continued to reduce accumulated inventories of the dealers.

Geely Automobile June sales, Geely Automobile H1 sales, China automotive news

However, compared with 128,449 vehicles sold in the year-ago period, the automaker still faced a slump of 29.25%.

Geely Automobile June sales, Geely Automobile H1 sales, China automotive news

(Photo source: Geely Automobile's WeChat account)

Of the total sales volume in June, 15,985 units were new energy and electrified vehicles (NEEVs). Meanwhile, Geely Automobile's export volume surged by more than twofold from the year ago to 6,234 units.

Amongst the NEEVs sold last month, the hotter-selling models included the Emgrand EV, the Jiaji MHEV, the Xingyue MHEV and the Geometry A, whose sales sum accounted for around 72% of total NEEV sales.

For the first half of the year, the Group's cumulative sales volume reached 651,680 units, sliding approximately 15% from the year-ago period and completing 43% of the Group's full-year sales target of 1.51 million units in 2019.

The Group said its management team is to revise downward the 2019 annual sales goal by 10% to 1.36 million units from 1.51 million units due to the continuous uncertainties in China's PV market and its determination to proactively reduce the aggregate inventories of its dealers which partly led to the lower-than-expected Jan.-Jun. sales.

During the month of June 2019, the sales of the New Emgrand and the Vision sedan amounted to 15,034 units and 5,096 units, according to a spokesman of Geely Automobile. He also said the monthly sales volume of the Geely Boyue, the Emgrand GS crossover SUV, the Emgrand GL A+ segment sedan and the Vision SUV reached 13,786 units, 5,359 units, 5,055 units and 5,012 units respectively.

In addition, the latest sedan and SUV models—Binrui and the Binyue—got their respective sales in June reaching 5,180 units and 10,786 units.

There were 3,654 units of the Jiaji MPV, 1,743 units of the Geometry A high-end all-electric sedan and 2,431 units of the Xingyue crossover SUV sold during the past June.

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