Geely Auto Exceeds 2024 Sales Target, Aims for 2.7 Million in 2025

Geely Auto Exceeds 2024 Sales Target, Aims for 2.7 Million in 2025

Geely Auto Corporation has announced a record-breaking year in 2024, with sales surpassing 2.17 million vehicles, exceeding its previous target of 2 million units. This achievement marks a significant milestone for the company, reflecting its successful strategictransformation and brand integration efforts. For 2025, Geely Auto is setting an ambitious target of 2.7 million units, representing a nearly 25 percent increase.

Strategic Transformation and Brand Integration

In 2024, Geely Auto undertook a strategic transformation, shifting from strategic expansion to strategic focus. This transformation involved the integration of its various brands, including the merging of the Geometry brand into Geely Galaxy and the integration of Lynk& Co and Polar Krypton. These efforts aimed to streamline operations and enhance brand cohesion.

Technological Advancements

Geely achieved further cost reduction through the upgrading of GEA's global new energy architecture. This technological advancement allowed the company to enhance its product offerings while maintaining competitive pricing. The focus on new energy solutions is a keyaspect of Geely's long-term strategy, emphasizing sustainability and innovation.

Brand Performance

Geely Galaxy accumulated sales of 494,000 vehicles throughout 2024, achieving an impressive 80% increase from 2023. The Polar Krypton brand also saw significant growth, with nearly 420,000 deliveries, marking an 87% year-over-year increase. These figures highlight the strong performance and market acceptance of Geely's diverse brand portfolio.

Export Growth

In terms of exports, Geely sold a total of 403,923 vehicles in 2024, marking an increase of more than 53% over the same period last year. The company's global reach expanded to cover 80 countries and regions, supported by more than 900 overseas sales and service outlets. Geely launched 16 models in total, further solidifying its presence in international markets.

2025 Goals and Focus

For 2025, Geely's passenger car section aims to achieve a total production and sales target of 2.71 million units. Li Shufu, chairman of Geely Holding Group, emphasized in his New Year's address that the company will focus on the comprehensive improvement of technology, quality, service, and brand image, rather than pursuing short-term sales gains. Geely is committed to opposing vicious competition and fostering long-term growth.

New Energy Initiatives

Geely Holding Group has also outlined a forward-looking approach to energy transformation. The company believes that the development of new energy should encompass a holistic approach to carbon reduction. Geely's new generation of "alcohol-hydrogen-electric hybrid" cars and SUV products will be introduced within this year, offering flexible mixing of methanol and gasoline in the same fuel tank. This innovative approach aims to address renewable energy challenges and enhance environmental sustainability.