Zotye fails to complete 80% sales target in 2017

Shanghai (Gasgoo)- Zotye Auto released its 2017 sales on Jan. 12, showing that its 2017 sales reached 317,036 units with a year-on-year drop of 4.8%, far below the average YoY sales increase of 1.4% in Chinese passenger vehicle market. Due to the sales slump in the first half of 2017, it only completed 79.2% annual sales target of 400,000 units.

In December, 2017, Zotye posted monthly sales of 61,502 units with a year-on-year surge of 82% and month-on-month growth of 60%, setting a new monthly sales record.

As to specific models, Zotye's most premium SUV model, the T700, with 14,411 units delivered in December, became the ever best-selling model of Zotye. Launched on May 31, its cumulative sales reached 58,961 units and its average monthly sales exceeded 8,000 units, boasting a remarkable market performance in the Chinese mid-large SUV segment. 

Apart from this model, sales of the T600 series and T300 respectively reached 11,430 units and 12,093 units. Zotye delivered 6,525 NEVs in December and 37,877 NEVs in 2017.

At the beginning of 2017, Zotye set its annual sales target of 400,000 vehicles. Similar to most automakers, Zotye performed not very well during the first half of 2017, delivering only more than 100,000 units. Thanks to the sales warming up of the whole vehicle market, Zotye saw its sales growth with cumulative sales of 210,749 units in the second half year of 2017, accounting for 66% of its annual sales. This robust growth was mainly driven by the launching of the all-new T700. 

In 2018, Zotye will accelerate the pace of introducing new SUV models, the all-new mid-size SUV, the T500 had rolled off the production line and will hit the market in recent days. Zotye's first seven-seater mid-large SUV, the T800 will also hit the market. In addition, Zotye will release the T300 electric vehicle, Zotye's first electric SUV, which will have a range of 250km.