Geely Holding boasts 23% YoY jump in Jan.-Jul. 2024 auto sales

Shanghai (Gasgoo)- Zhejiang Geely Holding Group ("Geely Holding") announced on Tuesday that its automobile sales volume reached around 245,752 units in the seventh month of 2024, growing 10% year on year (YoY).

Of the vehicles the group sold last month, 110,042 units were contributed by new energy vehicles (NEVs), representing a YoY surge of 42% and accounting for 45% of Geely Holding's overall auto sales in the month.

For the first seven months of 2024, Geely Holding recorded a cumulative sales volume of 1,739,467 vehicles, registering a 23% rise over a year earlier.

In the Jan.-Jul. period, Geely Holding saw its total NEV sales shoot up 48% over a year earlier to 696,522 units. It also reported a year-to-date sales volume of 690,478 vehicles for its overseas markets, which jumped 23% from the previous year.

Geely Holding 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.

Geely Galaxy E8; photo credit: Geely Galaxy

Geely Auto Group, comprising Geely (including Galaxy range), Lynk & Co, and ZEEKR brands, reported a sales volume of 150,782 units for the month of July, witnessing a 13% YoY rise. In the month, its NEV sales amounted to 59,051 units, surging 58% from a year earlier. Meanwhile, its monthly export volume soared 65% from a year earlier to 32,382 units.

As for the year-to-date performance, Geely Auto Group sold a total of 1,106,512 vehicles, marking a 36% year-on-year jump.

Volvo EX30; photo credit: Volvo Cars

Volvo Cars reported a steady YoY increase of 6% in its global sales for July 2024, with 57,447 vehicles sold. A significant portion of this growth came from the NEV sales, which amounted to 27,879 units, marking an impressive 49% spike compared to the same period last year. In addition, the company sold 28,390 units in Europe, achieving a robust 40% YoY surge.

Cumulatively, from January to July 2024, Volvo Cars' global sales totaled 445,520 vehicles, demonstrating a solid 13% growth compared to the year-ago period.

Moreover, PROTON logged a sales volume of 15,103 vehicles last month, indicating a 13% YoY growth. For the first seven months, the automaker's sales volume summed up to 88,799 units.