Geely Auto 2020 Sales Reach 1.32 Million Units
Geely Automobile Holdings Limited has reported that its December 2020 sales, including sales of Lynk & Co-branded vehicles sold by the Group’s 50% owned joint venture, reached 154,202 units, a year-on-year increase of 2%. Geely Auto and Lynk & Co brands sales in 2020 reached 1,320,217 units, beating its 2020 revised annual target. In spite of a market shutdown in China’s automotive market during the first quarter due to the Covid-19 epidemic, both Geely Auto and Lynk & Co brands have seen their market share grow with Geely Auto retaining its position as the best-selling Chinese brand for four consecutive years.
In 2020, the Geely Auto celebrated its 10 millionth vehicle sold, becoming the first Chinese brand to reach that historic milestone. Globally, Geely Auto has accelerated its expansion and improved its brand image and reputation. A total of 72,700 vehicles were exported in 2020, a year-on-year increase of 25.3%.
Pressured by a global epidemic and intensified competition in the automotive industry, China’s domestic auto market faced an immense challenge in 2020. Geely Auto continued expanding its role as the leading Chinese auto brand with an expanding market share, increased global competitiveness, and improved product lineup. Turning the challenge resulting from Covid-19 into opportunity, Geely Auto accelerated its digital transformation and redoubled its effort in driving development through innovation.
In 2020, Geely Auto continued expanding its global presence with new models launched in Russia, Philippines, Kuwait, Saudi Arabia, and Myanmar. Despite a global pandemic which is still affecting many countries today, Geely Auto was able to grow in global markets due to the strength of its newest models and new dealership openings.
For Geely Auto’s 50% owned joint venture brand, Lynk & Co, 2020 was a milestone year with the brand officially entering the European market in October and unveiling its first fully electric concept model based on the new Sustainable Experience Architecture, the Lynk & Co ZERO ahead of the Beijing Auto Show in September 2020. Since its first model launched in late 2017, Lynk & Co has grown immensely gaining more than 400,000 users by end of 2020. The young brand has set new monthly sales records for the past six consecutive months.
In 2021, Geely Auto will focus on adjusting it product strategy, introducing new models and set its annual target for 1.53 million units, a 16% increase from 2020. In 2021, Geely will bring to market a variety of new high value models. The Geely Auto brand will unveil a new CMA-based SUV and sedan as well as several updated models. For Lynk & Co, in addition to the production version of the pure electric Lynk & Co ZERO, the first Lynk & Co model developed on the Scalable Product Architecture will also be unveiled.