Manufacturing News

Geely aims for 6% sales growth in 2014

Geely Automobile Holdings says its vehicle sales rose 14 percent last year to 549,518 units, on strong demand for the Emgrand EC7 compact sedan.

Sales of that model surged 23 percent in December to 21,425 units.

In 2014, Geely expects its vehicle sales to increase 6 percent to 580,000 units.

That growth rate would be slightly below the 8-to-10 percent growth that the China Association of Automobile Manufacturers forecasts for the overall market this year.

To boost sales this year, Geely has formed an 80-20 joint venture with French bank BNP Paribas to provide floorplan financing to dealers and loans to car buyers.

Geely Automobile is the Hong Kong-listed subsidiary of Zhejiang Geely Holding Group Co. Headquartered in the east China city of Hangzhou, Geely Group owns Swedish carmaker Volvo Car Corp.

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