Geely Profit Increases 37.15% Mid-term

Geely has published its financial report for the first half year of 2013 on Aug 22. The group has achieved 1.398 billion Yuan net profit at the first half year, increased 37.15% over the same period of last year, and each stock gains 16.92 cents. It is a pretty good result among Chinese brands auto companies.

Geely said the good sales result is because Chinese owned brands sales have increased continuously, which increases 13% over some period of last year. Generally speaking, Geely has sold 263.5 thousand vehicles in the first half this year, which increases 19% over the same period of last year. It has achieved 47% of its 560 thousand annual goal, and total profit has increased 33% to 14.9 billion. Company said that sales increasing is because of the strong demand of EC7, increasing sales of Geely Panda, vision and GC7, motivation of SUV and increasing export.

As for Chinese market, Geely Group takes 3% of passenger car market. Sales of first half year has increased 17% to 213.1 thousand which is better than the average increase rate of passenger vehicle segment.

From models perspective, Geely owns three brands, Global Hawk, Imperial and British, Global Hawk takes 36% of its total sales, which ranks 1st. However, Imperial has increased faster which increases 33% to 230 thousand sales.

What’s more, EC7 is still the most favorite model of Geely, which takes 33% of its totally sales. It has increased 41% to 86 thousand over the same period of last year. Old models, such as Geely Free Cruiser and King Kong, have kept slipped down. They have declined 39% and 40% each.

Geely has remained its sales goal the same, 16% growth to 560 thousand. Meanwhile, Geely will launch couple of new models into market, and prepares to develop series of new models next year.

As for export, Geely has exported 50.4 thousand vehicles at the first half this year, which increases 26% over the same period of last year. And it takes 19% of total sales of Geely. Particularly Imperial export has increased 125% to 23.4 thousand, which takes 46% export volume and has exceeded Geely MK and King Kong. Geely said that developing countries of Middle East, Eastern Europe and Latin America are still the most important export market for the group. And Russia, Saudi Arabia and Ukraine have taken 60% of export volume.