Geely sold a total of 1,686,516 vehicles in 2023, which represents a year-on-year (YoY) increase of 18% while also exceeding its original sales target of 1.65 million units for the year. For 2024, the company has set an even higher sales target of 1.9 million units and it expects new energy vehicle (NEV) sales to grow by 66%.
NEV is a generic term coined in China that refers to electrified vehicles, which include mild hybrids, hybrids, plug-in hybrids as well as full electric vehicles (EVs). Last year, NEVs accounted for 29% or nearly a third of Geely’s total sales at 487,461 units, which itself is a 48% YoY increase.
Going by individual brands, 1,309,580 Geely Auto vehicles were delivered to customers in 2023 (+16% YoY), which included the Galaxy series that registered 83,497 units in the seven months after its launch, as well as the Geometry series that saw 191,346 deliveries (+28% YoY).
Meanwhile, Lynk & Co registered 220,250 deliveries (+22% YoY) and Zeekr’s cumulative delivery volume in 2023 reached 118,685 units (+65% YoY). Livan, which is a joint venture between Geely and Lifan Group that specialises in battery swappable vehicles, sold 38,001 units in 2023.
On the export side of things, Geely shipped 274,101 vehicles overseas last year, which is a 38% YoY increase. The company also has a presence in the Middle East, Asia-Pacific, Africa, Latin America and Pan-Europe, with 532 sales and service outlets in 70 countries and 10 products launched last year in 43 countries.
The post Geely sold 1.68 million units in 2023, up 18% YoY – sets aggressive target of 1.9 million units for 2024 appeared first on Paul Tan's Automotive News.
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