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April 1, 2020

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Home » Business » Auto

Geely Auto maintains sales outlook

Geely, China’s largest privately owned carmaker, said yesterday it will maintain its sales target of 1.41 million vehicles for 2020 that it set earlier this year.

Releasing the 2019 financial results, An Conghui, Geely Auto Group’s president and CEO, said there would be no layoffs, no salary cuts and no delay in paying salaries at present.

Geely will adjust its internal organization, improve staff efficiency and be rational in planning new projects to cope with the impact of the global pandemic.

Based on its long-term planning, it said it will not be affected by COVID-19.

One reason why the target is being maintained is that six models will be launched this year, three under the Geely brand, two under Lynk & Co and one under Geometry.

“Releasing six models in a year is a challenge for many car companies, which reflects the strength of Geely. The six new models will help Geely increase sales and further reduce costs,” An said.

Geely sold a total of 1.36 million units in 2019, down 9 percent year on year. But its market share rose to 6.5 percent from 6.2 percent.


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