Geely Feb sales up 54.2% y/y to 28,712 vehicles

Shanghai, March 12 (Gasgoo.com) Geely Auto said this week that its sales February grew 54.2% from a year earlier to 28,712 units, Bloomberg reported.

The February sales, however, dropped 35% from the previous month as buyers stayed away during the week-long Lunar New Year holiday in the middle of the month. Over the first two months, Geely sold 72,589 vehicles, up 95.5% year on year.

Geely chairman Li Shufu recently revealed that the company plans to launch electric cars in 2010, saying that some renewable energy vehicles will be displayed at the 2010 Beijing auto show in late April. 

The Chinese carmaker will begin assembling Volvo cars in China after its parent wraps up the deal to buy the brand from Ford Motor in the second quarter of the year. It has also agreed to acquire special vehicle carmaker Zhejiang Zhongyu Automobile Co.

In 2009, Geely Auto, the Hong Kong-listed subsidiary of Zhejiang Geely Holding Group, sold 325,413 cars, up 59%. Its 2010 sales goal was fixed at 412,000 vehicles, with over 20 new models to release.