Zhejiang Geely Holding Group (Geely Holding) today announced that aggregate sales across its three automotive subsidiary units – Geely Auto Group, Volvo Car Group and Geely New Energy Commercial Vehicle Group– rose 18.3% to over 2.15 million units in 2018 compared to 1.81 million units in 2017.
Of the Group’s subsidiaries, unit sales at Geely Auto Group, including the Geely Auto and LYNK & CO brands, reached a combined 1.5 million vehicles in 2018. Geely Auto sales comprised almost 860,000 SUVs and crossovers, with the remainder composed of sedans. Geely’s flagship sedan, the Bo Rui GE continued to be the best selling domestic Chinese large sedan with sales of more than 44,000 units in the eight months that it has been on the market. The New Emgrand continued to be the best selling Chinese sedan for the seventh year running with sales reaching 246,933 units in 2018, averaging sales of more than 20,000 units per month.
Following the 2017 launch of LYNK & CO, Geely Auto Group’s premium brand, inaugural full year sales exceeded 120,000 units. This total comprised 89,405 units by LYNK & CO’s first model, the 01; the 02 crossover, introduced in late 2018 has sold 21,751 units to date; and the 03 sedan, launched in October 2018, has sold 9,258 vehicles in the four months it has been on the market.
Lotus Cars registered its strongest sales since 2011 with sales reaching 1,630 units sold in 2018. Lotus is well placed to capitalize on its success in 2019 with planned expansion in markets such as China and the US.
Volvo Cars set a new global sales record in 2018, breaking the 600,000 sales milestone for the first time since the company was founded in 1927. The company’s global sales rose 12.4% to 642,253 cars in 2018, compared with the same period the year before.
Volvo’s new sales record underscores strong demand for Volvo’s renewed product portfolio, led by its award winning SUV line-up across the core regions of North America, Asia and Europe.
Polestar, Volvo Car Group’s electric performance brand established in late 2017, has already taken over 500 pre-orders for its first car – the Polestar 1, with its second model, the Polestar 2, set to be unveiled in 2019.
Geely New Energy Commercial Vehicle Group, established in 2016 as a strategic addition to Geely Holding’s portfolio, saw encouraging demand for models from its Yuan Cheng Auto and London Electric Vehicle Company (LEVC) brands.
The Yuan Cheng Auto brand sold a total of 5508 commercial vehicles which includes 4404 pure electric light trucks of various purposes, 596 pure electric city buses and 508 traditional fueled trucks.
In its first full year of business using the LEVC name, the London Electric Vehicle Company delivered 1,272 zero emission capable TX eCity taxi vehicle with the vast majority of deliveries occurring in the fourth quarter of 2018 as production increased at the new Coventry, UK production facility.
CaoCao Ride Hailing, a Geely Holding invested mobility service has expanded aggressively across China since its establishment in mid 2015. As of the end of 2018 the service is now operating in over 30 cities within China using with over 31,000 new energy vehicles in operation servicing 20 million active users which collectively undertook 120 million journeys in 2018.
CaoCao will continue to expand over the course of 2019 with the goal of operating in 50 cities across China.