Geely targets 29% sales growth this year on crossover boom
Robust crossover demand is prompting Geely Automobile Holdings to raise its sales target for China this year to 660,000 vehicles, a 29 percent increase over its sales in 2015.
Geely previously aimed to sell 600,000 vehicles in China this year.
The company upgraded its forecast after two new crossovers, the Boyue and the Emgrand GS, enjoyed a strong launch. In July, Boyue sales totaled 10,128 vehicles, while the Emgrand GS generated sales of 6,728.
Those two models replaced aging crossovers that had underperformed in China's hottest product segment. The company is expected to launch a third crossover later this year.
Though July, Geely delivered 328,859 vehicles, an increase of 17 percent from a year earlier.
Geely, headquartered in the east China city of Hangzhou, is listed in Hong Kong. Its parent company, Zhejiang Geely Holding Group Co. also owns Volvo Car Corp. Last year, Geely sold 509,863 vehicles.
The company upgraded its forecast after two new crossovers, the Boyue and the Emgrand GS, enjoyed a strong launch. In July, Boyue sales totaled 10,128 vehicles, while the Emgrand GS generated sales of 6,728.
Those two models replaced aging crossovers that had underperformed in China's hottest product segment. The company is expected to launch a third crossover later this year.
Though July, Geely delivered 328,859 vehicles, an increase of 17 percent from a year earlier.
Geely, headquartered in the east China city of Hangzhou, is listed in Hong Kong. Its parent company, Zhejiang Geely Holding Group Co. also owns Volvo Car Corp. Last year, Geely sold 509,863 vehicles.
