Geely Auto's October sales rise 0.99% to 310,183, 245 short of record

Geely's figures, released on Sunday, showed exports rose 157.78% year on year in October to 107,153 vehicles, up 0.44% from September but below the record 110,094 set in August. They accounted for 35% of total sales, down from 37% in September.

For the first ten months, exports rose 167.94% to 904,823 vehicles, or 98% of a full-year target of 920,000. That leaves about 15,000 vehicles to find in November and December. Geely raised the target from 640,000 on 17 August.

The European Commission imposed a countervailing duty on China-built battery electric vehicles at 18.8% for Geely Group in October 2024, after a year-long anti-subsidy investigation. The duties run for five years through 2029.

China sales fall again

Sales in China fell 23.55% year on year to 203,030 vehicles in October, a steeper decline than September's 20.21%. Against September they rose 9.46%, the highest monthly level since January. China sales totalled 1,640,841 vehicles in the first ten months, down 23.31%.

Company-wide NEV sales rose 20.86% year on year to 214,996 vehicles, passing 200,000 for the first time and taking a record 69% of total sales. Battery electric sales rose 43% to 140,758, while plug-in hybrids fell 6.66% to 74,238. PHEV sales had been largely flat year on year in September.

Total sales growth of 0.99% was the weakest in four months. Growth had topped 5% in each of the preceding three months, including 6.97% in September. The October total of 310,183 was the second-highest monthly figure, after 310,428 in November last year.

Brand sales

The core Geely brand, including Galaxy, sold 255,742 vehicles in October, up 4.17% year on year. Galaxy set a record at 153,385. Zeekr sold 32,483 vehicles, up 51.63% year on year but down 12.72% from September, its first month-on-month decline since January. Zeekr ended a run of nine consecutive months in which growth had approached or exceeded 100%. Lynk & Co sold 21,958, down 45.40%, its steepest decline this year and seventh consecutive month of contraction, though sales rose 18.74% from September to their highest monthly level since April.

For the first ten months, the core Geely brand sold 2,006,702 vehicles, down 1.18%. Galaxy sold 1,030,569, up 2.80%. Zeekr sold 320,887, up 94.45%, while Lynk & Co sold 218,075, down 22.58%.

Full-year target

Geely sold 2,545,664 vehicles in the first ten months, up 2.76% year on year and 74% of a 3,450,000 full-year target. Meeting that goal would need an average of about 452,000 vehicles a month in November and December, well above the monthly record of 310,428.