Geely profits up 35 percent in first half
China's domestic automaker Geely Motor Corp announced its net profits hit 805 million yuan in the first half of 2010, up 35 percent from the previous period.
Partly due to government incentive programs, the company sold 195,700 vehicles during the first six months, up 42 percent year on year, just under half of its full-year sales goal of 400,000 cars.
Local media quoted Li Shufu, president of the corporation, saying Geely is confident it will reach its 2010 target.
Geely finalized the 1.3 billion yuan purchase of Volvo sedans from Ford Motors on August 2.
