GEELY sales had a 24% slump in Feb, sales of sedan and SUV dropped obviously

The Chinese auto market experienced its first negative growth in 28 years in 2018. The sales situation has become more and more serious for the major automobile brands. In 2019, more automakers chose to develop steadily. Geely Auto announced in January that the target sales volume in 2019 was 1.51 million units, which was only less than 1% higher than sales in 2018. After a sales growth in January, IIA learned from Geely Auto that sales in February were 83,552 units, a year-on-year decline of 24%, which has become one of the few double-digit sales declines of Geely in recent years. The sales of several best-selling models have declined.

According to data released by Geely Automobile, the sales performance of many models in February was not very good. The sales of the new Emgrand and BoYue were 16,292 and 15,013 respectively, down 9.1% and 25.8%. The sales of sedan and SUV models of YUANJING family fell by 72.9% and 48.8%. In addition, sales of Emgrand GL, BINRUI, and Emgrand GS have experienced different degrees of decline.

This year, Geely Auto's annual target sales volume is set at 1.51 million units, an increase of 0.61% compared with last year. In the first two months of this year, Geely Auto sold a total of 242,000 units, a year-on-year decrease of 9%. The annual completion rate has reached 16% so far. According to the previously announced "20200 Strategy", Geely Group plans to achieve annual production and sales of 2 million vehicles by 2020.