AutoBeta(AutoBeta.net)11/09 Report--

On November 7th Geely released its latest sales figures for October. Data show that in October 2022, Geely car sales were 152263, up 36.44% from the same period last year and 16.65% month-on-month, while sales of new energy vehicles were 31070, up 337.54% from the same period last year.

Geely sold a total of 1141901 vehicles from January to October 2022, an increase of 10.50 percent over the same period last year, reaching 69.20 percent of the annual sales target of 1.65 million vehicles in 2022. In terms of brand segmentation, Geely brand sales rose 34 per cent year-on-year to 119874 vehicles in October, of which Geometry brand sales rose 116 per cent to 12570 vehicles; from January to October, Geely brand sales rose 6 per cent to 914867 vehicles. Among them, Geometry brand sales increased 215% to 116822 vehicles. Lectra brand fell 24% year-on-year to 16439 vehicles in October, but increased for six consecutive months, with cumulative sales of 139979 vehicles from January to October, down 17% from the same period last year. Polar krypton brand sales in October were 10119, an increase of more than 22% compared with the same period last year. For the first time, monthly delivery of bicycles exceeded 10,000, with cumulative sales of 49593 from January to October, up 24821% from the same period last year. Ruilan, a power exchange brand, sold 5831 vehicles in October and 37462 from January to October.

In addition, Geely's sales of new energy vehicles were relatively outstanding in October, with sales of 26781 pure electric vehicles in October, up 346% from the same period last year, and 193073 in the first 10 months, up 418% from the same period last year. Plug-in hybrid models and gas-electric hybrid models also continued to maintain growth, with plug-in hybrid models up 292% to 4289 in October and 277% to 56462 from January to October. In addition, the data also show that Geely's overseas market continues to rise, with Geely car exports rising 80 per cent year-on-year to 18164 vehicles in October and 89 per cent to 160071 vehicles from January to October, becoming a new engine of Geely car sales growth.

Based on the analysis of the sales data of various brands, among Geely's multi-brands, only the Lecker brand showed a significant downward trend, while the others achieved year-on-year growth, especially the growth of new energy brands. Previously, Guan Jiayue, executive director of Geely Automobile Group CEO and Geely Automobile Holdings Co., Ltd., said that Geely cars were affected by the epidemic to a certain extent in the first half of the year, especially the Luck brand, whose main sales areas were in the Yangtze River Delta, but with the help of a number of national policies, the car market basically returned to normal track after June, but for now. The impact of the epidemic and chip shortage on the Lectra brand has not been completely eliminated. Overall, Geely performed well, growing by 10.50%. In response to the increase in fuel vehicle sales in October, some media reported that Geely insiders said that the main reason for the growth was that the supply chain had been in short supply, and sales rose after the supply chain eased in October.

As the supply chain eased in the second half of 2022, a number of Geely brands also began to launch a number of new cars. Among them, new models have been launched by many brands, such as Lecker brand, polar krypton brand and Geely from mid to late October. On October 23, the high-performance smart hybrid electric SUV Leike 09 EM-P sailing version of the Lock brand was officially launched, with two versions of AM and PM, with the AM model selling for 339800 yuan and the PM model priced at 349800 yuan. On October 26th, Geely's new flagship model Boyue L officially launched six models with a price range of 125700-170700 yuan. On November 1st, polar krypton ZEEKR brand new MPV model extreme krypton 009 officially launched, the new car launched a total of two models, the price is 49.9-588000 yuan, according to the plan, the new car will start delivery in January 2023, after the launch will compete with Teng Teng D9, Buick GL8, Lantu Dreamer and other models; November 8 Geely launched a new medium-sized SUV Hauer L model, the new car will be launched in December.

Affected by the previous epidemic, lack of core and other factors, Geely has failed to achieve its annual sales target for two years in a row, but against this background, Geely still sets a sales target of 1.65 million vehicles in 2022, an increase of 24% over 2021. It is commendable to dare to sprint for high sales, but from the analysis of current sales data, Geely achieved only 69.20% of its sales target of 1.65 million vehicles in 2022 in the first October. With only two months to go before the end of 2022, it will be extremely difficult for Geely to achieve its annual sales target.

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