Geely shores up sales on Lynk & CO volume
Geely Automobile Holdings eked out a 3 percent sales gain in October as demand for the newly created premium brand Lynk & CO more than offset weaker deliveries for the mass-market Geely marque.
Lynk & CO offers three models after launching sales of its first product, the 01 compact crossover, in November last year. The other two models -- the 02 compact crossover and the 03 compact sedan – went on sale in June and October, respectively
In October, the brand delivered 15,207 vehicles.
Sales at the Geely brand dropped 9.1 percent from a year earlier to 113,779 as demand in the overall Chinese car market remained weak.
Through October, Geely delivered 1,265,844 vehicles under the Geely and Lynk & CO brands.
Geely and Volvo Car Corp. are both owned by private Chinese automaker Zhejiang Geely Holding Group. Volvo holds a 30 percent stake in Lynk & CO.
In late 2019, the plug-in version of the Lynk & CO 01, which shares a platform with the Volvo XC40, will be assembled at Volvo’s plant in Ghent, Belgium. The vehicle is expected to hit the European market in 2020.