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Geely sold 111,599 vehicles in October, a 20% decrease

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On November 8, Geely announced their sales data for October. The sales volume of New Energy Vehicles in October was 7,909. In China, the government’s term “New Energy Vehicle” covers three categories: electric vehicles (EVs), plug-in electric vehicles (PHEVs), and Fuel cell electric vehicles (FCEVs). Geely didn’t disclose how many of the 7,909 NEVs were PHEVs and how many pure EVs.

The total October sales were 111,599, a year-on-year decrease of 20% and a month-on-month increase of about 7%. Geely delivered 112,822 vehicles.

The total sales volume was 1,033,395 vehicles from January to October, with a year-on-year increase of about 2%.

Lynk&Co sold 21,707 vehicles in October and 169,667 vehicles from January to October, with a year-on-year increase of about 33%.

In terms of NEV, the sales volume in October was 7,909 vehicles, a year-on-year increase of about 36%. The total sales volume of NEV models from January to October was 65,152 vehicles, with a year-on-year increase of about 20%.

In terms of overseas exports, the export volume in October was 10,104 vehicles, increasing about 26% month on month. The cumulative export volume reached 84,818 cars from January to October, with a year-on-year increase of about 73%. For example, in Russia, the total sales volume of Geely Atlasexceeded 25,000.

In terms of distribution, Geely sold 44,347 PVs and 67,007 SUVs in October.

Zeekr, EV subbrand of Geely, started batch delivery on October 23, 2021. By the end of October 2021, 199 Zeekr 001 had been delivered.

Geely disclosed these data on the Hong Kong Stock Exchange, and we have to note that these are unaudited sales data in October 2021.

Although Geely achieved good sales results in October, there are still great difficulties to overcome in the future. The most significant factor restricting Geely’s development in 2021 should be the shortage of chips.

By the end of October, due to chip shortage and other related problems, Geely had more than 150,000 undelivered orders, which had exceeded Geely’s monthly sales.

Geely completed 68% of the annual sales target of 1.53 million vehicles in 2021. There are only two months left this year. If it wants to complete the task, it is almost impossible to sell another 520,000 new vehicles until the end of the year.

Geely is the owner of Volvo, acquired Lotus this year, and established EV and hybrid brands Polestar and hippish Lynk & Co. It also owns Ev startups Geometry and Zeekr (meaning “Geek” in Chinese).

Source: Hong Kong Exchange

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