Recently, Geely Automobile Group announced its global sales data for the first half of 2024, with a total sales of 955,730 vehicles, a year-on-year increase of 41%, of which 197428 units were sold in overseas markets, a year-on-year increase of 67%, a record growth rate.
In the past few years, Geely Automobile has launched 12 high-value products in a total of 30 overseas markets, including Geely Starray (Boyue L in China), Geely's new Preface (Xingrui in China) sedan and Geely Okavango (Haoyue L in China). The launch of these new products meets the diverse needs of users in different markets and accelerates Geely's layout in overseas markets.
Geely Automobile has also implemented a "multi-energy product layout" strategy, covering a variety of power forms such as fuel, pure electric and hybrid, aiming to provide an intelligent travel experience and meet the high-quality travel needs of users. In many countries around the world, especially in 14 countries such as Saudi Arabia, U.A.E., Qatar and the Philippines, Geely Automobile's market share ranks among the top three Chinese brands.
In addition, in overseas markets, Geely's flagship SUV Monjaro (domestic Xingyue L) and the new generation Emgrand also achieved high sales performance, winning the top three and first sales positions of Chinese brands in five countries, including Saudi Arabia, U.A.E. and Qatar. After its launch in Kazakhstan, Okavango (the domestic Haoyue L) quickly entered the top three in total sales in the segment.
In the first half of 2024, Geely Automobile also added more than 120 overseas sales and service outlets, and has now deployed more than 650 outlets in 76 countries, strengthening its ties with overseas users.
According to official information, Geely Automobile has established three subsidiaries in Eastern Europe, the Middle East, and Latin America. Looking ahead, Geely Automobile's overseas export target has been raised to 380,000 units from 330,000 units at the beginning of the year.
For reference, the total sales of other Chinese brands in the first half of the year are also worth mentioning. BYD had 1,607,100 units and 203,400 units overseas, Chery Automobile had 1,100,621 units and 532,158 units overseas, Great Wall Motor had 559,669 units and 201,500 units overseas, and Changan had 1,334,051 units and 203,200 units overseas.
To a certain extent, adhering to the strategy of going overseas and getting rid of the domestic involution vortex should be the key to Geely Automobile's future sales growth.
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