Manufacturing News

Geely sales growth pace slows despite new products

Geely Automobile Holdings’ sales growth has leveled off despite the introduction of new products in China.

In November, the largest domestic Chinese passenger vehicle maker delivered 141,661 vehicles under its mass-market Geely brand and premium Lynk & CO marque, a 0.3 percent increase from a year earlier.

In late October, Geely brand launched sales of the Binyue compact crossover, the second product derived from its new B-segment modular architecture, after the Binrui compact sedan in August.

The two new nameplates each accounted for more than 10,000 sales in November. Yet, the brand’s deliveries fell 8.4 percent to 129,340 in the month as demand for its other products decreased.

Lynk & CO, in which Volvo Car Corp. holds 30 percent interest, rolled out two compact crossovers and a compact sedan from November 2017 to June. Last month, combined deliveries of the three nameplates, which share the platform with Volvo’s XC40 compact crossover, totaled 12,321.

After maintaining more than 30 percent growth year on year through August, Geely’s sales have rapidly lost steam since September.

In September, the company’s deliveries rose 14 percent from a year earlier. In October, its sales growth slowed to 3 percent.

Thanks to robust sales in the first eight months, the company’s total sales through November still jumped 29 percent from the same period last year to top 1.4 million.

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