Geely Holding Group scores 19% YoY jump in Oct. 2023 sales

Shanghai (Gasgoo)- Zhejiang Geely Holding Group ("Geely Holding") announced on Monday that its monthly auto sales reached roughly 277,800 units in October 2023, marking a 19% year-on-year jump. The group also reported a sales volume of 106,700 new energy vehicles (NEVs, including battery electric vehicles and plug-in hybrid electric vehicles) for the same month, representing a 65% year-on-year spike and a monthly penetration rate of 38%.

Galaxy L7; photo credit: Geely Galaxy

To be specific, in October, Geely Auto Group, which includes Geely, Lynk & Co, ZEEKR brands, and Livan Auto, saw its monthly sales hit a new high of 180,706 units, reflecting a 19% growth over a year ago and a 6% rise over the previous month. This performance marks the ninth consecutive month for Geely Auto Group to achieve both year-on-year and month-on-month growth.

Of the vehicles Geely Auto Group sold last month, 62,086 units were NEVs, nearly doubling over the year-ago period and growing 16% over a month earlier. The share of NEVs in its total October sales amounted to 34.4%.

Volvo C40 RECHARGE; photo credit: Volvo Cars

Turning to Volvo Cars, its global sales in October reached 59,861 units, reflecting a 10% year-on-year growth. It is worth highlighted that 36% of these sales were attributed to the RECHARGE NEV models and 18% were contributed by full-electric vehicles. In the Chinese market, Volvo Cars sold 15,041 vehicles last month.

Polestar, another noteworthy name in the Geely portfolio, sold 12,772 vehicles in October around the world.