, HangZhou
Geely Holding Brands Q1 2024 Sales Reach 738,400 Units

  • Group brand sales in March 2024 grew over 23% YoY to 260,700 units

  • Sales of electrified vehicles grew over 21% YoY to more than 94,900 units, representing 36% of aggregate sales.

  • Growth across brand portfolio continued to accelerate as brands diversify their global product offerings with new high tech electrified models.

2024 April 10th, Hangzhou, China – Zhejiang Geely Holding Group (Geely Holding) announced today that its cumulative aggregate sales for Q1 2024 across its automotive brands – Geely Auto, LYNK & CO, Zeekr, Volvo Cars, Polestar, PROTON, Lotus, smart, Radar, LEVC, and Farizon reached 738,400 vehicles, a 27% YoY increase. Brand sales in March 2024 reached 260,700 units, a 23% YoY increase. Among the month’s aggregated sales, electrified (EVs, HEV, PHEVs) vehicles reached 94,900 vehicles, representing a year-on-year increase of 21% and representing 36% of the Group sales.

Geely Holding’s portfolio brands strong growth over the first quarter have been driven by their launch of new advanced electrified models and accelerated overseas expansions.

Unit Sales Details

Geely Auto, the Hong Kong-listed holding company (HK.0175) that includes Lynk & Co and Zeekr, reported March 2024 sales of 150,835 units, an approximately 39% YoY increase. Sales of electrified vehicle reached 44,791 units, an increase of 65% YoY and accounting for 30% of the company’s total monthly sales.

Lynk & Co, the company’s premium brand sold 19,671 units, a 40% YoY. The company’s high-end premium electric mobility technology brand, Zeekr sold 13,012 units, a YoY increase of 95%.

Volvo Cars sold 78,970 vehicles globally in, an approximately 25% YoY increase. The brand’s cumulative sales for year reached 182,687 vehicles, an approximately 12% YoY increase. Electrified vehicles sales continue to drive growth for the brand reaching 74,995 vehicles, a YoY increase of 11% and accounting for 41% of the brand’s overall sales. The brand’s smallest electric model Volvo EX30 based on Geely’s SEA architecture continued leading the brand in its electric transformation.

Proton Cars, of which Geely Auto Group controls 49.9% in partnership with DRB-HICOM, recorded March sales of 12,666 units with total sales in 2024 reaching 39,150 units. The brand’s popular Saga sedan model saw its strongest sales performance since 2013 with 18,247 units sold in the first quarter. Its newest Geely-based model, the S70 has also shown strong results with 5,906 units sold in Q1 opening up a new market segment for the brand.

Over the past month, new advanced electrified product debuts and launches have helped enrich the global product offerings of Geely portfolio brands. Zeekr’s fifth model, the family electric MPV Zeekr MIX made its debut. Lynk & Co launched its latest mid-sized electrified sedan, the 07 EM-P. Geely Auto continued expanding its presence in the hybrid segment through its Galaxy product line with the launch of the Galaxy L7 and L7 Dragon editions.

The Group had also continued to showcase its technological strength to the public in March. Geely Auto’s electric Galaxy E8 successfully conducted the industry’s first 20-ton heavy truck collision test, setting new benchmarks for EV safety. The Group’s latest AI digital chassis debuted through a demonstration of the world’s first driverless drifting function on Lynk & Co and Geely Auto models.

The Group’s portfolio brands continued their accelerated global expansion in March. Geely Auto saw its export sales reach a record high 36,405 units in March, an approximately 81% YoY increase. The mainstream brand signed new cooperation agreements with partners in Kazakhstan. Geely Auto’s Tugella coupe SUV model helped legendary female Saudi racer Mirhan Al-Baz win the championship in the 2024 Women’s Desert Rally. Zeekr 01 and Zeekr X models have begun sales in UAE and Saudi Arabia. At the same time, right-hand drive Zeekr X and Zeekr 009 officially started taking pre-sales orders in Thailand. The Group’s new energy commercial vehicle brand, Farizon reached an agreement with Alibaba’s Cainiao logistics company to promote new energy commercial vehicles overseas.