Geely Automobile Holding Company announced preliminary results for the first half of 2020, reaching 36.81 billion yuan in sales, with net profits exceeding 2.29 billion yuan. Market share increased from 6.1% to 6.5% at this stage of total sales targeting more than 1.3 million cars by the end of the current 2020 year
Although the global markets were affected by the Corona epidemic COVID-19 Which led to a slowdown in global economic activity and instability in international trade, Geely Auto Holdings Ltd. issued its positive numbers during this period, of which the group’s revenues reached 50%. As with all industries, Geely Automobile Group’s performance was affected by the COVID-19 pandemic in the first half of 2020
Despite the negatives that dominated the first quarter of this year, the second quarter, specifically between April and June, witnessed an increase in the brand’s sales by 20% and 21%, respectively, indicating a trend towards a strong recovery. The parent company of the group, Geely Holdings, has made a strong commitment to invest in research and development in core technologies in electric vehicles, modular engineering, intelligent connectivity and autonomous driving.
The group ranks first in China. In the first half of this year it was reinforced by an exclusive global strategic partnership with Waymo, the world leader in autonomous technologies.
Mr. Nongwe, “President and CEO of Geely Auto Group,” said that despite facing constant change in the global auto industry and the complex international trade situation, Geely Auto has always been committed to independent research and development and improving the company’s innovative capabilities. In the second half of this year, Geely will continue to work hard, focus on market demands, convert ‘challenges’ into ‘opportunities’, and work towards increasing our global market share and healthy growth in an effort to create better products and services for Geely automotive group users.