Geely sales beat revised 2020 target

Worldwide
Published:  28 January, 2021
The Geely Preface

Sales of Geely Auto and Lynk & Co brands totalled 1,320,217 units in 2020, beating the Chinese Group’s revised annual target.

December 2020 sales for Geely Automobile Holdings, including sales of Lynk & Co-branded vehicles sold by the Group’s 50% owned joint venture, reached 154,202 units, up 2% year-on-year. Market share is reported to have grown for both brands, with Geely Auto retaining its position as the best-selling Chinese brand for four consecutive years.

In 2020, Geely Auto celebrated its 10 millionth vehicle sold, becoming the first Chinese brand to reach that historic milestone. Globally, Geely Auto is reported to have accelerated its expansion in countries such as Russia, Philippines, Kuwait, Saudi Arabia and Myanmar, while improving its brand image and reputation. A total of 72,700 vehicles were exported in 2020, a year-on-year increase of 25.3%. Over the course of 2020, Geely Auto continued to introduce vehicles based on the Compact Modular Architecture (CMA) developed in cooperation with Volvo Cars. To date, Geely Auto has launched two CMA based vehicles, the Preface Sedan and the Xing Yue Crossover SUV. In 2021, Geely Auto is to focus on adjusting its product strategy, introducing new models and set its annual target for 1.53 million units, a 16% increase from 2020.

The Zhejiang Geely Holding Group (Geely Holding) reported that aggregate sales across its three automotive subsidiary units, which includes Geely Auto Group, Volvo Car Group and Geely New Energy Commercial Vehicle Group, exceeded 2.1 million units in 2020. The Geely Auto Group is comprised of the Geely Auto, Lynk & Co, Geometry, Proton and Lotus brands. Under the Volvo Car Group, the Polestar brand began global delivery of the Polestar 2, its pure electric coupe crossover, in the second half of 2020 with thousands of deliveries across Europe and China, according to the carmaker. The brand’s first U.S. deliveries started in January 2021. The first Polestar Spaces also began opening in major urban centres including London, Gothenburg, Shanghai, Beijing, New York and Los Angeles. To date, more than 40 Polestar Spaces have been opened.