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Sales of Geely cars, which have always been strong under their own brands, fell again in May, and Geely stalled amid an extremely depressed Chinese car market. Geely's sales report showed that sales in May fell 27% from a year earlier to 90309 vehicles, with a cumulative total of 560805 vehicles from January to May this year, down about 12% from a year earlier, a decrease of more than 76000 vehicles.

Geely explained that the decline in sales in May was due to Geely's continued reduction in dealers' total inventory. Officially, it means that the total number of cars in stock at Geely dealerships is high. In fact, Geely has been reducing the number of wholesale sales since the beginning of this year, falling by about 2% year-on-year in January, 24% in February, up 3% in March, continuing the overall decline of 19% year-on-year in April and expanding to 27% in May.

Almost all car brands are affected by the industry environment this year. New car sales in China have been affected by the slowdown in economic growth, and the overall market situation continues to decline, affecting the sales performance of various manufacturers. Geely, which has always been sound, has also experienced great ups and downs this year, facing greater market pressure.

Today, the Federation of passengers officially released the sales data of the domestic passenger car market in May. The sales volume in May was 1.582 million, down 12.5% from the same period last year. The cumulative sales from January to May was 8.187 million, down 11.9% from the same period last year, the 12th consecutive month of decline.

Geely said car sales were not optimistic in the first half of this year. Gui Shengyue, chief executive of the company, said that Geely had a market share of 7% in the first quarter, the group's strategic policy remained unchanged, and its goal was to become one of the most advanced and largest car companies in the world, and its market share in the Chinese market could not decline.

Based on this goal, Geely proposed "heroes based on market share" this year to ensure that the target of 2 million vehicles will be achieved next year. According to documents disclosed by Geely executives, at present, the salary adjustment of employees has been carried out within the company, and the salary of outstanding employees has increased. At the same time, some employees have volunteered to join the Geely incentive mechanism, and middle and senior employees have voluntarily put part of their salaries as "bets." go all out to promote the realization of the 20200 strategic goal.

Yang Xueliang, vice president of Geely Automobile Group, said, "in order to make middle and senior cadres have a greater sense of mission, a sense of purpose and a sense of results, employees of more than eight posts voluntarily join the operating results sharing incentive mechanism, and the reward for achieving the goal will be higher."

So far, Geely reached 37 per cent of this year's target of 1.51 million vehicles in the first five months.

In May, there were more than 10, 000 models in three models, of which 16223 were sold by Dihao, 13527 by Boyue and 10059 by Qiyue. In addition, the cumulative sales of mid-and high-end brand Lecker in May was 9190, of which Lecker 01 accounted for 4104.

Geely earned 106.595 billion yuan in 2018, up 15% from a year earlier, while net profit rose 18% to 12.55 billion yuan. After the announcement of the results, Gui Shengyue, chief executive and executive director of Geely, said that China's auto industry has said goodbye to the stage of rapid growth. He said that the Chinese auto market is now entering the competition of stock, and with the tax incentives for foreign brands, there must be a big reshuffle in the next few years, which is an economic law, and no market or company can be spared.

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