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Geely's Q3 profit surged 59% on strong sales, boosting annual target to 3 million vehicles.
Geely Automobile reported a 59% year-on-year increase in third-quarter net profit to 3.82 billion yuan ($538.1 million) and a 27% revenue rise to 89.19 billion yuan, driven by a 43% surge in vehicle sales to 761,000 units.
The company raised its annual sales target to 3 million units, citing strong demand for its electric and traditional vehicles, including the Galaxy and Zeekr brands.
Zeekr delivered 140,195 vehicles in the quarter, with revenue up 9.1% and gross margin reaching 19.2%.
The company’s performance was bolstered by strategic moves like merging Zeekr and Lynk & Co., expanding its retail network, and launching new models, despite industry-wide challenges including price competition and regulatory scrutiny.
El beneficio del tercer trimestre de Geely aumentó un 59% con fuertes ventas, impulsando el objetivo anual de 3 millones de vehículos.