AutoBeta(AutoBeta.net)03/30 Report--

On March 30, Geely Automobile released its 2019 results, showing that Geely Motor's revenue in 2019 was 97.401 billion yuan, down 9% from 10.66 billion yuan in 2018, and the market is expected to be 97.479 billion yuan; net profit (profit attributable to equity holders of the company) 8.189 billion yuan, down 35% from 12.553 billion yuan in 2018 compared with 2018 yuan, and the market is expected to be 8.72 billion yuan.

Geely said that due to a larger-than-expected decline in overall sales during the year, coupled with pricing pressure caused by weak demand and fierce market competition, Geely's total annual revenue fell 9 per cent to 97.4 billion yuan and net profit fell 35 per cent to 8.2 billion yuan.

Sales figures show that Geely sold 1.3616 million vehicles in 2019, meeting its annual sales target of 1.36 million, but down 9.3% from 1.5008 million in 2018.

The SUV is responsible for Geely's car sales. Geely's total SUV sales in 2019 reached 709800, accounting for 52.1% of total car sales. Among them, the Boyue family sold 228564 vehicles in 2019, while Dihao GS and Qiyue sold 112777 and 137528 vehicles, respectively. In addition, the Lecker brand has also performed well in the market, with cumulative sales of 128066 vehicles in 2019, an increase of 6.4 per cent over the same period last year.

Passenger car sales fell another 10 per cent in 2019, following a 4 per cent year-on-year decline in 2018. In the overall model downturn environment, Geely car sales did not increase significantly, but also outperformed the market. Judging from the sales volume in each month, except for only 83600 vehicles affected by the Spring Festival holiday in February in the first quarter, the sales volume in January and March was generally OK; from the second quarter to the third quarter, it mainly showed a "U" curve, with sales basically showing a decline in the second quarter, with an average monthly sales of about 95000 vehicles; sales continued to grow in the third quarter, climbing to 143200 vehicles in November last year.

In 2019, Geely introduced more competitive new energy and electrified car products, significantly increasing the proportion of new energy and electrified vehicle sales. According to the data, Geely sold 113067 new energy vehicles in 2019, up 66.5 per cent from a year earlier. Models such as Dihao EV, Dihao GL PHEV, Dihao PHEV and Dihao GSe account for 73 per cent of Geely's total new energy sales.

At present, Geely has three major platform architectures: BMA, CMA, SPA and PMA pure electric architecture. In terms of products, Geely icon was officially launched last month, and six models, including Geometry's first medium-and large-scale multi-function SUV-VX11, Geometry's second car-GE13, and CMA architecture-Lecker 05, are also planned to be launched this year.

As a result of the successful completion of the 2019 sales target, Geely has set a sales target of 1.41 million vehicles in 2020, an increase of 3.6 per cent year-on-year. In 2020, due to the invasion of the COVID-19 epidemic, the layout of many car companies was confused in a short period of time, and monthly sales also hit a new low. Of course, Geely is no exception, with cumulative sales of only 133006 vehicles from January to February, down 45 per cent from a year earlier. Only 9% of the sales target was achieved in the first two months, and the annual sales target completion rate is questionable.

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