Geely Holding sells 2.79-M in 2023

MANILA: Sales of Zhejiang Geely Holding Group (Geely Holding) reached 2.79 million units in 2023 — the sixth straight year that the conglomerate breached the two-million mark in aggregate sales.

The aforementioned number — which was collectively achieved by Geely Auto, Lynk and Co, Zeekr, Volvo Cars, Polestar, Proton, Lotus, Smart, Radar, LEVC, and Farizon — is 20 percent higher when compared year-on-year.

Per Geely Holding, its electrified and alternative fuel passenger and commercial vehicles rose by more than 51 percent year on year reaching sales of around 980,000 examples and accounting to 35 percent of its aggregate sales. Such improvement in retail performance, the Group claimed, matched its focus on “electrification, next- generation technologies and synergies in sustainability.”

Last year, Geely Holding launched the Geely Auto’s Yinhe E8, Zeekr 007, Lynk and Co 07 EM-P, Volvo EX30, Polestar 4, Lotus Emeya, Smart #3, Proton S50, and Farizon Supervan.

Geely Auto’s year-on-year sales went up by 18 percent after it sold 1.68 million vehicles for the full 12 month of 2023. The company attributed the growth to its expanding presence worldwide and electrified vehicle sales. According to the Geely, exports to overseas markets increased 38 percent to 274,101 units. Its offerings under the new energy segment had a 354,471-vehicle retail output.

Lynk and Co rolled out 220,250 units to customers globally last year — reflecting a 22-percent increase. Since its introduction, Geely Auto Group’s premium brand has already turned over more than one million vehicles.

Meanwhile, Zeekr delivered to its clients over 118,685 units around the world the previous year — boasting a 65-percent surge by the end of the year. The company aims to nearly double its sales for 2024 with a goal of handing over 200,000 units to their buyers.

Proton Cars had a 9.3-percent sales growth year over year, selling 154,611 examples last year. The Malaysian marque clinched its number-two position in its home market, accounting for almost a fifth of the country’s automotive market share.

Lotus Cars saw over 1300-percent year-over-year sales with more than coming from the electric vehicle line.

Further, Volvo Cars was able to deliver 708,716 vehicles to customers for the full 12 months of 2023 — with the share of fully electric vehicles rising 16% of all vehicles sold globally. The Swedish brand saw sales increase for its products in its three major markets of Europe, China, and the US led by its electrified Recharge line.

Polestar ended 2023 with 54,600 units sold. This year, the Swedish electric car brand will grow from being a one- to three-car company.

Smart, the new-premium intelligent and all-electric auto brand, delivered nearly 70,000 units worldwide. The firm is expanding its reach worldwide — now covering China, Europe, the Middle East, Southeast Asia and South Asia, with a business presence in 22 countries and regions.

In its full year of sales, Radar sales saw its market share in electric pickup trucks reach 61.5 percent. For this year, the new energy outdoors lifestyle vehicle brand plans to accelerate its expansion overseas and allow more users to enjoy its popular high-quality, high-tech, all electric pickup trucks.

Moreover, Farizon doubled its market share to over 20 percent in 2023.

Meanwhile, Geely Holding is expecting accelerated growth in electrified and clean alternative fuel vehicles sales and margins in 2024 across its brands.

Additionally, Geely Automobile Group set a retail target of 1.9 million units for 2024 — roughly 18 percent higher than its 2023 sales. Zeekr aims to double its sales to over 200,000 units for the year while Polestar targets to achieve annual sales around 150,000 by 2025.

Photos from Geely

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