2023-08-22 17:47:25
The resilience of Chinese car brands is impressive. Despite being involved in a fierce price war that has reduced the amount of vehicles in the country between 11% and 29%, as well as a slowdown in its domestic market, the large groups are presenting good results.
This is the case of Geely, the fifth largest manufacturer by sales, which managed to exceed expectations and close the middle of the year with a profit of 198.3 million euros (1,570 million yuan), 1% more than in 2022.
The price war and its efforts to convert to electrification were the main negative impacts on its accounts that the Chinese consortium had to deal with. Instead, a lower price of lithium carbonate played in his favor. Ultimately, this translated into operating margins of 14%, in line with last year.
Billing also increased by 26%, up to 9,244 million (73,180 million yuan), with a 44% growth in sales of electrified vehicles. Of its brands, the electric sports car Zeekr stands out, which increased its deliveries by 124%.
Total deliveries closed the semester with 694,045 units. The Chinese economy is not at its most buoyant, but the consortium is optimistic about the possibility of reaching its goal of 1.65 million sales in 2023.
Geely presented two models of its Zeekr brand at the last Shanghai Auto Show, the 001 sedan and the X compact SUV, which are destined to reach Europe and join other proposals from manufacturers in the country, such as BYD, Xpeng or MG.
The prices for the Old Continent have not yet been confirmed, but the X starts at 190,000 yuan in China, about 24,000 euros. The car has some features such as facial unlocking from the outside or the possibility of equipping a refrigerator in the passenger compartment.
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