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Geely sales up 5.5% in May

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Chinese car maker Geely Automobile said on Monday that sales rose 5.5 percent in May from a year earlier to 32,817 vehicles. For the first five months, sales climbed 2.3 percent to 187,895 vehicles, or 40.8 percent of its full-year target of 460,000 cars.

It added that April sales of its Emgrand, Englon and GLEagle brands totalled 10,268 units, 11,555 units and 10,994 units, respectively. Ahead of the announcement, Geely’s Hong Kong-listed shares closed up 4 percent on Monday, beating a 2.4 percent gain for the benchmark index.

Exports in May reached a record high of 94.1%, up around 7% from April 2012. From January to May exports volume was very strong and reached around 180.9% over the same period last year.

Geely plans to become China’s largest auto exporter in the following two years and it also aims at opening plants in Belarus and Uruguay this year. “I am confident we will be able to become the largest Chinese exporter among the domestic brands in two years,” said Gui Shengyue, chief executive officer of Geely.

Via: Reuters, InAuto.

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