Geely Holding Group Achieves 22.2% YoY Increase in Auto Sales for May 2024
In a recent announcement, Zhejiang Geely Holding Group revealed a significant growth in its automobile sales volume for the fifth month of 2024. The group reported a total sales volume of approximately 256,556 units, representing a notable 22.2% year-on-year (YoY) increase.
New energy vehicles (NEVs) played a crucial role in driving this growth, with 110,681 units sold in May. This segment experienced a remarkable YoY surge of 59%, accounting for 43.1% of Geely Holding’s overall auto sales for the month.
Looking at the performance for the first five months of 2024, Geely Holding achieved a cumulative sales volume of 1,230,162 vehicles, marking a 27.9% rise compared to the same period last year.
The group’s diverse portfolio includes key automotive entities such as Geely Auto Group, Volvo Cars, PROTON, Lynk & Co, Lotus Cars, Polestar, LEVC (London EV Company), smart, RADAR, and Farizon Auto.
Galaxy E5; photo credit: Geely Galaxy
Geely Auto Group Drives Growth with Impressive Sales Figures
Geely Auto Group, which comprises Geely (including Galaxy range), Lynk & Co, and ZEEKR brands, reported a total sales volume of 160,658 units in May 2024, marking a substantial 38% YoY increase. The group’s NEV sales reached 58,673 units, showing a remarkable 146% surge compared to the previous year. Additionally, the monthly export volume soared by 68% YoY to 36,890 units.
Breaking down the performance of individual brands within Geely Auto Group, Geely brand achieved sales of 120,264 units in May, representing a 30% YoY growth. Lynk & Co recorded a sales figure of 21,778 units, marking a 50% YoY increase. ZEEKR stood out with a significant YoY spike of 115%, delivering a total of 18,616 units in the month.
Volvo Cars and PROTON Contribute to Geely Holding’s Growth Trajectory
Volvo Cars, a key entity within the Geely Holding Group, reported a global sales volume of 68,034 units in May, reflecting a 13% YoY increase. The carmaker’s NEV sales reached 32,768 units for the month, showing a 37% YoY growth.
PROTON recorded a sales volume of 12,522 vehicles in May, indicating a 13.6% month-on-month growth. The automaker also witnessed a significant 63.9% increase in export volume for the first five months of the year.
