Geely Holding’s full-year auto sales jump 20% YoY in 2023

Shanghai (Gasgoo)- On January 12, Zhejiang Geely Holding Group ("Geely Holding") revealed that its total automobile sales for 2023 reached approximately 2.79 million units, reflecting a 20% year-on-year (YoY) growth. Notably, the sales of new energy vehicles (NEVs) soared 51% YoY to around 980,000 units, representing an NEV penetration rate of 35%.

Geely Holding Group encompasses key automotive entities such as Geely Auto Group, Volvo Cars, PROTON, Lynk & Co, Lotus Cars, Polestar, LEVC (London EV Company), smart, RADAR, and Farizon Auto.

ZEEKR X; photo credit: ZEEKR

Geely Auto Group, comprising Geely, Lynk & Co, ZEEKR, and Livan Auto brands, reported a robust total sales figure of 1,686,516 units for the entirety of 2023, witnessing an 18% YoY growth. Its new energy vehicle sales surpassed expectations, totaling 487,461 units and registering a YoY surge of over 48%. Geely Auto Group's exports also experienced a significant uptick, reaching 274,101 units and boasting a notable 38% YoY increase.

Breaking down the performance of individual brands within Geely Auto Group, Geely brand's total sales for 2023 reached 1,309,580 units, with the Geely Galaxy series contributing significantly with a cumulative sales figure of 83,497 units in just seven months since its market launch. Lynk & Co achieved an annual total sales figure of 220,250 units. Notably, ZEEKR demonstrated a remarkable YoY spike of 65%, with a total delivery volume of 118,685 units in 2023.

In addition, Volvo Cars, part of the Geely Holding Group, reported a total sales figure of 708,716 units in 2023, of which its global pure electric vehicle sales jumped 25% from the previous year. PROTON achieved an annual total sales figure of 154,000 units, showcasing a 9% YoY growth and securing a substantial 19.4% market share in Malaysia.

As for milestones for other entities, Lotus Cars' pure electric supercar EMEYA made its world debut. The Polestar 4 all-electric model officially debuted last year and has successfully entered production, poised to be delivered to global customers in early 2024. LEVC introduced its groundbreaking Space Oriented Architecture (SOA), and its inaugural pure electric MPV product, the L380, is set to be built on this innovative platform.