China Knowledge reported that Chinese auto maker Geely Automobile Holdings Ltd recently announced that its July sales declined by 11.9%YoY to 21,684 units.

The sales results reflected a decrease of 26.3%MoM when the firm sold 29,414 vehicles.

Geely said in the period from January to July, Geely sold 217,418 cars up by 33.9%YoY. The company has achieved 54.4% of its annual target of 400,000 units for this year

Last week, Geely said that it increase its shareholdings in UK based taxi maker Manganese Bronze Holdings to 51%. Both parties are expected to sign the final agreement this month. Geely will further speed up the localization and globalization of MBH's products and MBH aims to turn to profit in 2011.

(Sourced from China Knowledge)