Geely's 2023 results are released: 1.68 million units are sold throughout the year, and new energy vehicles have the highest gold content?
Recently, Geely Automobile Group officially announced its sales data for the whole year of 2023, and the cumulative sales volume of Geely Automobile reached 1686516 units, a year-on-year increase of about 18%. This not only exceeded the set full-year sales target, but also set a new sales record. In terms of new energy vehicles, Geely's cumulative sales volume in 2023 will be 487461 units, a year-on-year increase of 48%, also a record high, and it is worth mentioning that Geely's new energy vehicles have achieved positive year-on-year sales growth for 11 consecutive months.
Although Geely's sales performance continues to be strong, from the sales trend in the second half of 2023, Geely's sales performance in the last month has declined, but this is estimated to be Geely's accumulation for 2024, after all, Geely's monthly sales remained above 150,000 units from August to November, and exceeded 200,000 units in November. While there was no significant fluctuation in the market in December, Geely's sales volume was only 150,000 units, which was significantly stronger than its previous performance.
At the same time as the 2023 sales results were announced, Geely also announced its sales target for 2024, with a target of 1.9 million units and a new energy sales growth target of more than 66%. Based on December's sales figures, Geely seems to be adjusting its strategy to be fully prepared for the sales peak during the Chinese New Year. In view of the successful completion of the full-year sales target, Geely's move aims to lay a solid foundation for the market layout in 2024. Looking ahead, Geely will continue to focus on the synergistic development of sales volume and transformation. The new energy vehicle business, which made significant progress in 2023, is expected to achieve a comprehensive breakthrough in 2024, injecting new vitality into the company's sustainable development.
According to Geely's annual NEV sales data, the first half of the year was mainly due to the strong sales of the two brands, Geometry and Zeekr, and the monthly sales performance was stable, maintaining the level of 20,000 to nearly 30,000 units. Since the official launch of Geely Galaxy's first model, the Galaxy L7, on May 31, marking an important milestone in Geely's transformation in 2023, Geely's new energy vehicle sales exceeded the 30,000 mark and hit a record high of 38,600 units with the help of nearly 10,000 sales of the Galaxy L7 in June.
At the same time, since June this year, the sales volume of the Zeekr brand has recovered to the level of 10,000 units, injecting new momentum into the transformation of Geely Group in the new energy vehicle market. In the following months, Geely's sales of new energy vehicles showed strong growth momentum. From July to August, sales exceeded the 40,000 mark, and in September, a new record was set with sales exceeding 50,000 units. From October to December, Geely's new energy vehicle sales performance remained stable, stabilizing at more than 60,000 units per month, successfully ranking among the top three domestic new energy vehicle companies.
It is worth mentioning that Geely's excellent performance in the field of new energy vehicles has sufficient gold content, and its products show balanced characteristics in terms of structural configuration. Whether it is a pure electric vehicle or a plug-in hybrid vehicle, it covers all kinds of markets from low-end to high-end. According to statistics, in 2023, Geely's pure electric vehicle sales will reach 334,600 units, a year-on-year increase of 28%, while the cumulative sales volume of plug-in hybrid vehicles will also reach 152,900 units, a year-on-year increase of 130%.
On the other hand, Geely's NEV sales layout focuses on the high-end market, and its main brands such as Geely Galaxy, Lynk & Co and Zeekr have all locked in the mid-to-upper segment. In addition to the positioning of the Geometry brand in the entry-level market, Geely's new energy vehicles have shown stronger market competitiveness and anti-risk ability as a whole, so as to better cope with market fluctuations. This also means that although Geely is facing the profit pressure brought about by the transformation of new energy vehicles, it has a relatively large profit margin, and has more opportunities to take the lead in achieving profitability after reaching a certain scale.
Summary:
From the perspective of 2024, the three brands of Galaxy, Lynk & Co and Zeekr will all usher in a big year of products, and all three brands already have a number of hot-selling models in the market. Based on this situation, the market performance of these three main brands in 2024 is still relatively optimistic. For Geely Group, as NEV sales continue to grow, its internal synergies will be further strengthened, thereby reducing production costs, which will provide Geely Group with a greater competitive advantage in the fierce competition in China's auto market.