AutoBeta(AutoBeta.net)04/07 Report--

On April 7, Geely Automobile released its March sales announcement, which showed that the cumulative sales volume of Geely Automobile from January to March 2020 was 206,000 vehicles, down 44% year-on-year from 367,000 vehicles in 2019. Sales in March were 73021 vehicles, down 41% from 125,000 in 2019, but up 245% from February.

Specifically, Geely sold 24,000 cars, 48,000 SUVs and 1014 MPVs in March this year. Among them, the sales volume of new energy and electrified vehicles was 2503, and the total sales volume of LinkedIn brand vehicles was 7369. In terms of exports, Geely exported 3152 vehicles in March, down about 60% year-on-year; total sales in the Chinese market were 69,900 vehicles, down about 40% year-on-year.

The new crown pneumonia epidemic has brought a lot of uncertainty to the market, and Geely's annual sales target of 1.41 million vehicles will also face greater challenges. As of March, Geely achieved 15% of its sales target of 1.41 million vehicles.

At present, many automobile enterprises have announced to cut annual sales targets, through pay cuts and layoffs to reduce the threat of the epidemic to the company. However, Geely Holding President An Conghui said that there would be no correction to the sales target of 1.41 million vehicles, and Geely's long-term planning had not changed. In addition, Geely promised not to lay off workers, cut salaries or delay pay, but to use organizational innovation and efficiency improvements to cope with the impact of the epidemic.

Although An Conghui said that he would not reduce annual sales, the decline in sales in 2020 seems to be a "consensus." CICC said China's auto market would be greatly affected by the spread of the global epidemic, with sales expected to fall 12 per cent under neutral assumptions, including an 8 per cent decline in Geely sales.

Since the epidemic, the development of China's automobile industry has been hit as never before. The sales volume of many automobile enterprises hit a record low in February, which also has a great impact on the annual sales target of automobile enterprises. However, at present, the epidemic has been brought under control, automobile manufacturers and parts manufacturers have resumed production, and the resumption rate of auto dealer stores is increasing day by day. However, it will take some time for China's auto market to really recover. At present, the domestic auto market is gradually returning to the right track. With the continuous advancement of various favorable policies, market demand is expected to increase slowly.

Geely said: "At present, Geely's domestic suppliers have all completed the resumption of work approval, production capacity has steadily climbed, and domestic supply chain risks have been basically fully and effectively controlled." Geely dealers and terminal sales systems have also basically completed the resumption of work."

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