Geely Automobile sees 29% YoY increase in H1 2022 revenue

Beijing (Gasgoo)- On August 18th, Geely Automobile Holdings Limited (Geely Automobile) released its 2022 semiannual financial statement, with blooming revenue and gross profit per vehicle.

Photo credit: Geely Auto

In the Jan.-Jun. period, Geely Automobile earned 58.2 billion yuan in revenue ($8.57 billion), representing a 29% increase year-on-year. The automaker’s net profit attributable to shareholders amounted to 1.55 billion yuan ($228.5 million), dropping down 35% over a year ago.

In the first half of 2022, Geely Automobile sold around 614,000 vehicles, among which, new energy vehicles accounted for 17.9%, up by 14.4 percentage points year on year. During the period, the  average single-car sales revenue increased 21.1% year on year to 102,000 yuan ($15,014).

In the first six months of 2022, Geely Automobile sold roughly 88,000 vehicles overseas, surging 64% year over year. Lynk & Co delivered 10,912 vehicles in Europe, a precipitous rise of 3,986.9% from the year-ago period. The Geometry C model ranked first in sales in Israel’s battery-electric vehicle market.

Internationalization is the key to Geely Automobile's strategic layout. The automaker plans to deeply dig into major foreign markets such as Europe, Asia-Pacific, the Middle East, and Latin America, in an effort to have overseas sales account for 20% of the group’s total sales volume by 2025.