Korean Media: Geely Automobile Group Shatters Sales Records in First Half of the Year!
On September 19, South Korean media outlet *Herald Economy* published an article stating that China’s Geely Automobile Group recently announced first-half sales exceeding 1.42 million units, setting a new historical high. Both revenue and operating profit also reached record levels during this period.
The group’s revenue for the first half of the year amounted to RMB 173.6 billion.
Compared to the same period last year, revenue rose by 15%, while operating profit surged by 46%. The gross profit margin increased to 17.9%, with average profit per vehicle reaching RMB 6,806—a 45% increase from the prior-year period.
By brand, the Geely Galaxy series secured its position in the new-energy vehicle market with approximately 520,000 units sold in the first half. The premium electric vehicle brand Zeekr achieved sales of over 178,000 units, accounting for about 12.5% of the group’s total volume, while Lynk & Co continued its growth trajectory with sales surpassing 144,000 units.
Driven by strong performance, research and development expenditures expanded accordingly. Total R&D spending in the first half reached RMB 9.06 billion, up 8% year-on-year. However, due to improved operational efficiency, R&D expenses as a percentage of revenue declined by 0.3 percentage points to 5.2%.
Geely Automobile Group plans to accelerate the electrification of its internal combustion engine vehicle lineup in the second half of the year, leveraging advanced hybrid powertrain technology. The company aims to achieve monthly i-HEV sales exceeding 30,000 units by year-end, laying the groundwork for global expansion into the i-HEV market next year.
International market expansion remains a key driver of growth for Geely Automobile Group.
In the first half of the year, exports to regions outside China grew by 158% year-on-year, reaching 474,000 units—exceeding last year’s full-year total of 420,000 units. Monthly export volumes surpassed 100,000 units for two consecutive months in June and July.
As a result, the company has raised its export target for the year from the current 640,000 units to 920,000 units, aiming to approach a total annual export volume of one million units.
Global restructuring efforts are also accelerating. Geely Automobile Group has consolidated engineering teams based in Sweden and Germany to shorten the time between new model launches in China and their entry into international markets.
Currently, the company operates more than 2,000 retail and service outlets across 114 overseas markets. It is also preparing to launch its luxury model, Zeekr 9X, into non-European international markets.
Original source: toutiao.com/article/1876762105793547/
Disclaimer: The views expressed in this article are those of the author alone.