Geely Automobile says its own-brand sales totaled 415,300 units in 2010, up 27 percent from 2009. But Geely did not match the industry's overall pace of sales growth. Last year, sales of passenger cars and SUVs in China rose 34 percent to 13.8 million units, according to the China Association of Automobile Manufacturers.

Geely has been phasing out its inexpensive Geely and Maple brand models, which sell for less than 40,000 yuan ($6,000). The company is switching to more expensive models with its Emgrand and Englong brands.

Emgrand models have a starting price above 70,000 yuan, while Englon models start above 55,000 yuan. Geely's migration into more upscale segments improved profits but sacrificed some sales volume.

Geely Automobile is the Hong Kong-listed subsidiary of Zhejiang Geely Holding Group Co., which acquired the Volvo car brand from Ford Motor Co. last August.