Car maker – Geely increases profits – economy

Chinese automaker Geely boosted profits in the first half of the year thanks to the recovery of the world’s largest auto market, China. Profit rose 4% to 2.38 billion yuan (equivalent to 313 million euros) compared to the same period last year, as Geely announced on Wednesday. The number of cars sold increased 19% to 630,237. Sales rose 22% to 45 billion yuan. Geely is cautiously optimistic for the year as a whole. “We assume that the rise in commodity prices will weaken over the course of the year, but the chip shortage may continue during this period,” he said. However, the imminent market launch of new vehicle models should compensate for this. The company is thus sticking to its sales target of 1.53 million vehicles for the year as a whole. Geely currently sells 90% of its cars in China, but has been trying for years to increase its exports and especially to penetrate the markets of Southeast Asia and Europe.

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