Geely Auto Q1 2026 Revenue Hits RMB 83.8B, Core Net Profit Up 31% YoY, NEV Sales Exceed 50%

In the first quarter of 2026, Geely Auto reported total revenue of RMB 83.8 billion, up 15% year-over-year (YoY); gross margin reached 17.5%, an increase of 1.7 percentage points YoY; and core net profit attributable to equity holders (excluding foreign exchange gains/losses and non-financial asset impairment losses) stood at RMB 4.56 billion, surging 31% YoY. All three key financial metrics hit record highs for the same period in history. Total sales volume for the quarter reached 709,000 units, ranking first among Chinese自主品牌 brands. Of this, 369,000 units were new energy vehicles (NEVs), accounting for 52.1% of total sales. The company’s overall market share (based on shipment volume, including domestic and export markets) was 11.95%, up 0.97 percentage points YoY. Its ICE vehicle market share rose to 10.71% (+0.31 pp YoY), while NEV market share climbed to 13.39% (+1.75 pp YoY). The premiumization strategy is yielding strong results: Zeekr brand sales surged 85% YoY in Q1. The Zeekr 9X has topped monthly sales charts for luxury SUVs priced above RMB 500,000 for five consecutive months, with March deliveries exceeding 10,000 units. The newly launched Zeekr 8X received over 10,000 firm orders within 29 minutes of its debut and delivered more than 3,000 units within ten days. Lynk & Co’s NEV sales accounted for 62% of its total volume, with the Lynk & Co 10 EM-i ranking second in China’s B-segment hybrid sedan market. In the mainstream NEV segment, Geely Xingyuan became the best-selling NEV sedan across all brands in China during Q1. The Galaxy M9 ranked first in C-segment six-seat hybrid SUV sales, while the Galaxy Starlight 8 maintained its position as the top-selling mid-to-large plug-in hybrid sedan. On the ICE front, Geely has retained its title as China’s top-selling domestic-brand ICE automaker for nine consecutive years. The Boyue, Xingrui, and Bin Yue models ranked first in their respective segments—across all brands for compact SUVs, among domestic brands for A-segment ICE sedans, and in the A0-segment ICE SUV category. Overseas business expanded rapidly, with Q1 export sales reaching 203,000 units, up 126% YoY—including 125,000 NEV exports, soaring 572% YoY. Geely now operates over 1,900 sales and service outlets across more than 100 countries and regions worldwide, targeting 750,000 units in total exports for 2026. Key markets include Europe, Eastern Europe, ASEAN, Latin America, and Africa (each targeting over 150,000 units annually), as well as the Middle East and Asia-Pacific (targeting over 100,000 units). Multiple models have already been launched or delivered overseas, including the Geely EX2 (Xingyuan) in Indonesia and Thailand, Lynk & Co 01/02 (Z20) in Mexico, Galaxy E5 and Galaxy Starship 7 EM-i in Uzbekistan, and the Lynk & Co 900 in the UAE. On the technology front, Geely’s next-generation AI-powered i-HEV intelligent hybrid system has entered mass production, delivering a combined fuel consumption of just 2.22 L/100 km. Its dedicated hybrid engine achieves a thermal efficiency of 48.41% and integrates the Xingrui AI Cloud Powertrain 2.0 large model. This system will first be deployed on China Star series models such as the Xingyue L i-HEV and Xingrui i-HEV, with plans to extend it to high-volume models like the fourth-generation Boyue L and fifth-generation Emgrand. In intelligent driving, Geely’s cabin-driving integrated solution based on the WAM (World Action Model) has entered mass production. The “AI Super Assistant” (Super Eva) and “AI Super Driver” debuted on the Zeekr 8X alongside the Qianli Haohan G-ASD 4.0 system, enabling seamless integration of smart cockpit, advanced driver assistance, and digital ecosystems. Product iteration continues in Q2: the updated Zeekr 009 will launch in May; the Lynk & Co 900 five-seater variant is already on sale, with the pure-electric Lynk & Co 10+ and Lynk & Co 10 scheduled for May launch; the Galaxy A7 EV and Galaxy M7 are now available, and the Galaxy Starlight 7 is slated for a Q2 release.