Strong demand drives up Geely
By Jin Jing |
August 26, 2010, Thursday
|
Print Edition
Print Edition
GEELY Automobile Holdings Ltd, the Chinese owner of Volvo Car Corp, drove to a 35 percent jump in net profit in the first half of this year.
The Zhejiang-based car maker earned 804 million yuan (US$119 million) during January to June this year, up from 595 million yuan a year ago, Geely said in a statement to the Hong Kong stock exchange yesterday. Its turnover soared 55 percent from a year earlier to 9.23 billion yuan.
The home-grown car maker said it was encouraged with its overall performance in the first half of 2010, which was helped by the strong demand for sedans in the Chinese mainland market that offset continued weak export sales.
Geely sold 195,734 vehicles in the first six months, up 42 percent annually, or accounting for 49 percent of the group's full-year sales volume target of 400,000 units.
Exports sales remained disappointing and rose only 10 percent to 6,940 units.
Industry-wide, auto sales in the country surged 47 percent to 9.1 million units. Sales have begun growing at a slower pace since April due to a cooling economy and the government's macroeconomic control measures.
The Zhejiang-based car maker earned 804 million yuan (US$119 million) during January to June this year, up from 595 million yuan a year ago, Geely said in a statement to the Hong Kong stock exchange yesterday. Its turnover soared 55 percent from a year earlier to 9.23 billion yuan.
The home-grown car maker said it was encouraged with its overall performance in the first half of 2010, which was helped by the strong demand for sedans in the Chinese mainland market that offset continued weak export sales.
Geely sold 195,734 vehicles in the first six months, up 42 percent annually, or accounting for 49 percent of the group's full-year sales volume target of 400,000 units.
Exports sales remained disappointing and rose only 10 percent to 6,940 units.
Industry-wide, auto sales in the country surged 47 percent to 9.1 million units. Sales have begun growing at a slower pace since April due to a cooling economy and the government's macroeconomic control measures.
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