Geely Sales Statistics 2026
By Axis Intelligence Research
Co-author: Aidan Jad, EV & Clean Energy | Last updated: September 20, 2026 | License: CC BY 4.0
Geely Automobile Holdings sold 1,943,313 vehicles in the first eight months of 2026, up 2.4% year on year — but domestic Chinese volume fell 389,273 units while exports rose 435,522 units. Axis Intelligence Research finds that exports replaced 112% of the volume Geely lost at home, the highest substitution rate among China’s two largest exporters.
Quick Answer
Geely Auto (HKEX: 0175) sold 1,943,313 vehicles in January–August 2026, 56.3% of its 3.45-million full-year target. Exports reached 690,985 units (+170%) and now represent 35.6% of volume, against 13.5% a year earlier. First-half revenue hit a record RMB 173.6 billion at a 17.9% gross margin, while reported net profit slipped 2% to RMB 9.09 billion.
The single number that explains 2026: Geely’s Export Substitution Index (ESI) reading of 1.12 for the eight months to August — and 1.37 in August alone.
Key Findings
- Geely Auto sold 1,943,313 vehicles in the first eight months of 2026, up 2.4% year on year, according to company monthly sales announcements through August 2026.
- Geely exported 690,985 vehicles in January–August 2026, a 170% increase, and raised its full-year export target to 920,000 units on August 17, 2026.
- Axis Intelligence Research calculates Geely’s Export Substitution Index at 1.12 for the eight months to August 2026, rising to 1.37 in August.
- Geely Auto reported record first-half 2026 revenue of RMB 173.6 billion, up 15%, with gross margin at 17.9% and core profit per vehicle at RMB 6,806.
- Zeekr deliveries doubled to 251,188 units in the first eight months of 2026, lifting the brand to 12.9% of group volume from 6.6% a year earlier.
How Many Vehicles Has Geely Sold in 2026?
Geely Auto’s headline 2026 number looks like stagnation and isn’t. Volume through August is up 2.4%, which in a market where the company grew 39% last year reads as a stall. The composition tells a different story.
| Period | Total sales | Exports | Domestic China | Export share |
|---|---|---|---|---|
| Jan–Aug 2024 | 1,287,741 | 277,282 | 1,010,459 | 21.5% |
| Jan–Aug 2025 | 1,897,064 | 255,463 | 1,641,601 | 13.5% |
| Jan–Aug 2026 | 1,943,313 | 690,985 | 1,252,328 | 35.6% |
| Change 2026 vs 2025 | +46,249 | +435,522 | −389,273 | +22.1 pp |
Source: Geely Automobile Holdings monthly sales announcements (HKEX: 0175), January 2024 – August 2026; period totals and export share calculated by Axis Intelligence Research. Retrieved September 20, 2026.
August was the year’s high-water mark at 270,194 units, up 8% year on year and 8% on July, the sixth consecutive month of sequential growth. Underneath it, Chinese domestic sales fell 25.2% to 160,100 — the second month running of a domestic decline above 25%.
Aidan Jad: Read the two columns against each other and Geely’s year stops being ambiguous. The company did not grow by selling more cars in China; it grew by shipping 2.7 times as many cars out of it. That is a different business with a different cost structure, a different working-capital cycle and a different set of regulatory exposures. Anyone modelling Geely off the group total is modelling an average of two divergent trends.
Monthly cadence, 2026 versus 2025
| Month | Total 2026 | Total 2025 | Exports 2026 | Exports 2025 | Domestic 2026 | Domestic 2025 |
|---|---|---|---|---|---|---|
| January | 270,167 | 266,737 | 60,506 | 27,354 | 209,661 | 239,383 |
| February | 206,160 | 204,910 | 60,879 | 25,552 | 145,281 | 179,358 |
| March | 233,031 | 232,177 | 81,639 | 37,047 | 151,392 | 195,130 |
| April | 235,164 | 234,112 | 83,186 | 24,133 | 151,978 | 209,979 |
| May | 237,637 | 235,208 | 85,144 | 30,017 | 152,493 | 205,191 |
| June | 240,799 | 236,036 | 102,874 | 40,011 | 137,925 | 196,025 |
| July | 250,161 | 237,717 | 106,663 | 35,272 | 143,498 | 202,445 |
| August | 270,194 | 250,167 | 110,094 | 36,077 | 160,100 | 214,090 |
Source: Geely Automobile Holdings monthly sales announcements (HKEX: 0175). Domestic figures are total sales less exports. Retrieved September 20, 2026.
Source : axis-intelligence.com/geely-sales-statistics/ — Axis Intelligence Research, CC BY 4.0
The Axis Export Substitution Index (ESI): Geely’s Defining Metric for 2026
Most coverage of Chinese automakers in 2026 reports exports and domestic sales as two separate lines. That misses the mechanism. The question an operator, an investor or a European policymaker actually needs answered is: is the export push large enough to cover what the home market is taking away?
Axis Intelligence Research built the Export Substitution Index (ESI) to answer that in one number.
ESI = Δ export volume ÷ |Δ domestic volume|, measured year on year over the same period, and computed only where domestic volume declined.
| Reading | Interpretation |
|---|---|
| ESI ≥ 1.20 | Exports are a growth engine, not a patch — overseas gains exceed home losses by a wide margin |
| ESI 1.00–1.19 | Full substitution — the manufacturer holds volume flat on export strength alone |
| ESI 0.70–0.99 | Partial substitution — exports slow the decline but do not stop it |
| ESI < 0.70 | Export growth is cosmetic relative to the domestic hole |
Geely’s ESI, month by month
| Month 2026 | Δ exports YoY | Δ domestic YoY | ESI |
|---|---|---|---|
| January | +33,152 | −29,722 | 1.12 |
| February | +35,327 | −34,077 | 1.04 |
| March | +44,592 | −43,738 | 1.02 |
| April | +59,053 | −58,001 | 1.02 |
| May | +55,127 | −52,698 | 1.05 |
| June | +62,863 | −58,100 | 1.08 |
| July | +71,391 | −58,947 | 1.21 |
| August | +74,017 | −53,990 | 1.37 |
| Jan–Aug cumulative | +435,522 | −389,273 | 1.12 |
Source: computed by Axis Intelligence Research from Geely Automobile Holdings monthly sales announcements (HKEX: 0175). Snapshot as of August 31, 2026.
The shape matters more than any single reading. Geely spent the first five months of 2026 hovering just above break-even substitution — exports covering the domestic hole and almost nothing more. From June the curve breaks upward, and by August the company is adding 1.37 export units for every unit lost in China. That inflection coincides with monthly exports crossing 100,000 units for the first time.
ESI in context: Geely versus BYD
| Group, Jan–Aug 2026 | Δ overseas volume | Δ domestic volume | ESI | Total volume YoY |
|---|---|---|---|---|
| Geely Auto | +435,522 | −389,273 | 1.12 | +2.4% |
| BYD | +536,444 | −732,305 | 0.73 | −6.8% |
Source: computed by Axis Intelligence Research from Geely Automobile Holdings and BYD Company monthly sales announcements (HKEX: 0175 and 1211). Both groups measured on total group vehicle volume; BYD’s total is entirely new energy vehicles. Snapshot as of August 31, 2026.
BYD is exporting more incremental units than Geely in absolute terms — 536,444 against 435,522 — and still shrinking, because its domestic decline is nearly twice as deep. Geely’s smaller export gain is doing more work because the hole beneath it is smaller. That is the whole argument for using a ratio rather than two growth rates. The same index applied to BYD’s full sales and financial record shows a group still contracting on a much larger export base.
Aidan Jad: An ESI above 1.0 is not a victory condition. It says a manufacturer has bought time by relocating demand, and time is exactly what Geely needs while it re-prices its domestic line-up. The number to watch is not whether ESI stays above 1.0 — it is whether the domestic denominator stops growing. A company that reaches ESI 2.0 because China collapsed further has not improved.
What Share of Geely’s Sales Are Electric in 2026?
| Powertrain, Jan–Aug 2026 | Units | Share of total | Jan–Aug 2025 units | YoY |
|---|---|---|---|---|
| Battery electric (BEV) | 687,371 | 35.4% | 694,208 | −1.0% |
| Plug-in hybrid (PHEV) | 448,125 | 23.1% | 308,414 | +45.3% |
| Total NEV | 1,135,496 | 58.4% | 1,002,622 | +13.3% |
| Internal combustion | 807,817 | 41.6% | 894,442 | −9.7% |
Source: Geely Automobile Holdings monthly sales announcements (HKEX: 0175); period aggregation, ICE residual and penetration rates calculated by Axis Intelligence Research. Retrieved September 20, 2026.
New energy penetration reached 58.4% for the eight months, up 5.5 percentage points from 52.9% a year earlier. In August alone it hit 65%, with BEV volume up 29% to 120,590 and PHEV volume broadly flat at 55,287.
The BEV line is the one to sit with. Battery-electric volume for the eight months is down 1.0% year on year even as the NEV total climbs — because the first five months of 2026 ran well below 2025’s BEV pace before June’s step-change to above 100,000 units a month. Geely’s electrification is currently being carried by plug-in hybrids at home and by a rapidly electrifying export book.
NEV penetration by month
| Month 2026 | BEV | PHEV | NEV total | NEV penetration |
|---|---|---|---|---|
| January | 68,012 | 56,240 | 124,252 | 46.0% |
| February | 67,832 | 49,656 | 117,488 | 57.0% |
| March | 70,557 | 56,762 | 127,319 | 54.6% |
| April | 74,860 | 60,731 | 135,591 | 57.7% |
| May | 76,633 | 56,722 | 133,355 | 56.1% |
| June | 103,522 | 57,927 | 161,449 | 67.0% |
| July | 105,365 | 54,800 | 160,165 | 64.0% |
| August | 120,590 | 55,287 | 175,877 | 65.1% |
Source: Geely Automobile Holdings monthly sales announcements (HKEX: 0175); NEV totals and penetration rates calculated by Axis Intelligence Research.
Which Geely Brand Is Driving Growth — Galaxy, Zeekr or Lynk & Co?
Geely Auto now runs two pillars: Geely Auto Group (Geely, Geely Galaxy, Radar) and Zeekr Technology Group (Zeekr, Lynk & Co), the structure set out in the group’s Taizhou Declaration and completed when Geely took Zeekr private on December 22, 2025, ending the brand’s New York listing eighteen months after it began.
| Brand, Jan–Aug 2026 | Units | YoY | Share of group |
|---|---|---|---|
| Geely brand (incl. Galaxy) | 1,514,501 | −3.0% | 77.9% |
| — of which Geely Galaxy | 746,705 | −1.0% | 38.4% |
| Zeekr | 251,188 | +100.4% | 12.9% |
| Lynk & Co | 177,624 | −15.0% | 9.1% |
Source: Geely Automobile Holdings monthly sales announcements (HKEX: 0175); group shares and Galaxy year-on-year change calculated by Axis Intelligence Research. Retrieved September 20, 2026.
Three things in that table are not in the press release.
Galaxy has plateaued. The sub-brand that grew 150% to 1.24 million units in 2025 is running 1.0% below its own 2025 pace over the same eight months — 746,705 against 754,117. Monthly volume has settled in a 108,000–119,000 band since June. Galaxy is no longer the growth story; it is the base.
Zeekr is the growth story. Deliveries doubled to 251,188, lifting Zeekr from 6.6% to 12.9% of group volume in twelve months — a 6.3-percentage-point mix shift toward the group’s highest-price nameplates, and the mechanical explanation for most of the margin move discussed below.
Lynk & Co is shrinking inside a consolidation. Down 15% for the period and 37% in August, the only Geely brand in year-on-year decline. It sits under Zeekr Technology Group after the 51/49 restructuring, which means its volume loss and Zeekr’s gain are partly the same event: a deliberate re-sorting of segments between two brands that were competing for the same C-segment buyer. It is the same segment where Li Auto’s EREV and BEV mix and Xpeng’s volume recovery are fighting for the same buyer.
Aidan Jad: Brand-sprawl cleanup shows up in the delivery table before it shows up in the P&L, and it never looks tidy. Lynk & Co losing a third of its August volume while Zeekr doubles is not two stories — it is one internal reallocation with a public scoreboard. The test arrives in 2027, when the combined Zeekr Technology Group has to grow on its own rather than by absorption.
Geely Revenue, Margins and Profit per Vehicle
| Metric | H1 2026 | FY 2025 | H1 2025 |
|---|---|---|---|
| Revenue | RMB 173.6bn | RMB 345.2bn | >RMB 150bn |
| Gross margin | 17.9% | — | 16.4% |
| Core profit attributable to owners | RMB 9.68bn (+46%) | RMB 14.41bn (+36%) | — |
| Reported net profit | RMB 9.09bn (−2%) | — | — |
| Core profit per vehicle | RMB 6,806 (+45%) | — | — |
| R&D expenditure | RMB 9.06bn (5.2% of revenue) | — | — |
| Funding reserve (period end) | RMB 69.56bn | — | — |
Source: Geely Automobile Holdings H1 2026 results announcement (August 17, 2026), FY 2025 results (March 2026) and H1 2025 results. Retrieved September 20, 2026.
Axis calculation: revenue per vehicle and the mix effect
Volume rose about 1% in the first half. Revenue rose 15%. The gap is price and mix, and it can be sized precisely:
- FY 2025 revenue per vehicle = RMB 345.2bn ÷ 3,024,567 units = RMB 114,131
- H1 2026 revenue per vehicle = RMB 173.6bn ÷ 1,422,958 units = RMB 122,001
- Difference: +RMB 7,870 per vehicle, +6.9%
Axis Intelligence Research estimates that roughly seven thousand yuan of additional revenue per car — applied across 1.42 million vehicles — accounts for the bulk of the first-half revenue increase, with Zeekr’s doubling and the shift of volume into higher-priced export markets as the two identifiable drivers.
Axis calculation: the second-quarter margin
The company reports gross margin for Q1 (17.5% on RMB 83.8bn) and for the half (17.9% on RMB 173.6bn). The quarter in between is recoverable by subtraction:
- H1 gross profit = RMB 173.6bn × 17.9% = RMB 31.07bn
- Q1 gross profit = RMB 83.8bn × 17.5% = RMB 14.67bn
- Q2 revenue = RMB 173.6bn − RMB 83.8bn = RMB 89.8bn
- Q2 gross margin = (31.07 − 14.67) ÷ 89.8 = 18.3%
Axis Intelligence Research estimates Geely’s second-quarter 2026 gross margin at approximately 18.3%, roughly 0.8 points above the first quarter — margin expanding sequentially through a period of falling domestic volume, which is the opposite of the pattern a price war usually produces.
One more ratio worth keeping: R&D per vehicle ran at RMB 6,367 in the first half (RMB 9.06bn ÷ 1,422,958), against core profit per vehicle of RMB 6,806. Geely is spending very nearly one yuan on development for every yuan of core profit it books per car.
Aidan Jad: Reported net profit fell 2% and the headlines took it at face value. The delta is a foreign-exchange swing — a net FX loss this half against a large net gain last half — on a book that now ships a third of its cars across borders. That is the honest cost of the export pivot: the operating business improved by 46% on a like-for-like basis, and the currency line will keep introducing noise in both directions for as long as the export share keeps climbing.
Geely’s Export Position: Where the Volume Is Going
Geely ranked third in China’s passenger vehicle exports in the eight months to August 2026 with 688,051 units and an 11.3% share, behind Chery and BYD, on China Passenger Car Association data. In new energy exports specifically it ranked third for the period with 405,911 units and 12.2% share, and rose to second place in August with 69,910 NEVs and a 13.5% share.
| China NEV exports, Jan–Aug 2026 | Units | Share |
|---|---|---|
| BYD | 1,126,797 | 33.9% |
| Chery | 441,500 | 13.3% |
| Geely | 405,911 | 12.2% |
| Tesla China | 331,443 | 10.0% |
| SAIC Passenger Vehicle | 174,545 | 5.2% |
Source: China Passenger Car Association (CPCA) manufacturer export rankings, August 2026. Retrieved September 20, 2026.
Axis Intelligence Research calculates that NEVs made up 63.9% of Geely’s passenger vehicle exports in August 2026 (69,910 of 109,375 on the CPCA basis), against 59.0% across the eight months — the export book is electrifying faster than the export book is growing.
On destination markets, first-half export volume of 474,000 units already exceeded the company’s entire 2025 export total of 420,000 units across 88 countries. Geely raised its full-year overseas target from 640,000 to 920,000 units on August 17, 2026, and has stated an ambition of one million annual overseas sales. Localisation is moving with it: CKD operations in Egypt and Indonesia came online through 2025, and EX5 EM-i production started in Brazil in September 2026. Geely is not alone in the localisation race — see Leapmotor’s Stellantis-routed expansion and China’s aggregate EV export record.
The European backdrop is favourable to the product, if not to the tariff position. Battery-electric cars took 20.7% of EU registrations in the first half of 2026, up from 15.6% a year earlier, on ACEA figures — 1,220,890 BEVs registered in six months, with Chinese-badged brands roughly doubling their share of the bloc. Incumbent response is tracked on the Volkswagen EV statistics page.
Can Geely Hit Its 2026 Targets? An Axis Run-Rate Assessment
Geely set three public targets for 2026: 3.45 million total units, 2.22 million NEVs, and — after the August revision — 920,000 exports. Eight months is 66.7% of the year. Here is where each stands.
| Target | 2026 goal | Jan–Aug actual | % attained | Required monthly run-rate, Sep–Dec | August actual | Gap to required |
|---|---|---|---|---|---|---|
| Total vehicles | 3,450,000 | 1,943,313 | 56.3% | 376,672 | 270,194 | +39.4% needed |
| NEV | 2,220,000 | 1,135,496 | 51.1% | 271,126 | 175,877 | +54.2% needed |
| Exports | 920,000 | 690,985 | 75.1% | 57,254 | 110,094 | −48% required |
Source: targets from Geely Automobile Holdings FY2025 results (March 2026) and H1 2026 results (August 17, 2026); actuals from monthly sales announcements. Run-rates and attainment calculated by Axis Intelligence Research as of August 31, 2026.
Two of those three are arithmetic problems. Axis Intelligence Research estimates that Geely would need to lift monthly sales 39% above its August record in each of the final four months to reach 3.45 million, and 54% above August’s NEV volume to reach 2.22 million. Geely’s strongest month on record is November 2025 at 310,428 units — still 66,000 short of the required pace, and that month benefited from trade-in subsidies that were suspended in major Chinese cities from mid-November 2025.
The export target is the opposite problem: it is too low. Holding August’s 110,094 units for four more months implies 1,131,361 exports for the full year, 23% above the revised 920,000 target and past the one-million ambition a year early. Axis Intelligence Research treats this as a projection under a constant-run-rate assumption, not a forecast; seasonality, shipping capacity and destination-market tariff changes all bear on it.
Aidan Jad: A company that raises one target by 44% in August while two others drift out of reach is telling you where its own confidence sits. Volume targets set in March assumed a Chinese market that stopped existing in the form it was modelled on. The export number is the one management has actually moved twice this year, and it is the one that will get moved again.
Geely Auto vs Zhejiang Geely Holding Group: Which Number Is Which?
This is the most common sourcing error in Geely coverage, and it puts a two-times factor in the wrong place.
| Entity | 2025 total sales | 2025 NEV sales | NEV penetration | What it contains |
|---|---|---|---|---|
| Geely Automobile Holdings (HKEX: 0175) | 3,024,567 | 1,687,767 | 55.8% | Geely, Galaxy, Radar, Zeekr, Lynk & Co |
| Zhejiang Geely Holding Group (unlisted parent) | 4.12 million | 2.29 million | 56% | The above plus Volvo Cars, Polestar, Lotus, Proton, smart, Farizon, London EV Company |
Source: Geely Automobile Holdings FY2025 sales announcement (January 5, 2026) and Zhejiang Geely Holding Group FY2025 sales release (January 9, 2026); penetration for the listed entity calculated by Axis Intelligence Research.
Within the wider group in 2025, Volvo Cars sold 710,042 vehicles with 323,294 electrified, Polestar exceeded 60,000 units, Proton sold 162,601 in Malaysia, and Farizon’s commercial vehicle arm sold 162,019. When a figure is quoted for “Geely” without an entity attached, check which of the two rows it came from before citing it. Volume for the wider group’s European brands is tracked separately on the Volvo EV statistics and Polestar statistics pages.
Methodology
Collection. Volume data is taken from Geely Automobile Holdings’ monthly sales announcements to the Hong Kong Stock Exchange (stock code 0175) for January 2024 through August 2026, and from the company’s FY2025 and H1 2026 results announcements. Export ranking and share data is from China Passenger Car Association manufacturer export rankings for August 2026. European registration context is from the European Automobile Manufacturers’ Association H1 2026 release. Financial figures are as reported by the company; no analyst estimates are used.
Cross-validation. Monthly series were validated against company-reported period totals before use. Geely Galaxy’s monthly figures for January–June 2026 sum to 519,793 units, against the company’s stated “nearly 520,000” for the half — a variance under 0.1%. Core profit per vehicle of RMB 6,806 multiplied by 1,422,958 first-half units reconciles to RMB 9.685bn against reported core profit of RMB 9.68bn. Brand-level totals for the eight months (1,514,501 + 251,188 + 177,624) sum exactly to the group total of 1,943,313.
Formulas. Export Substitution Index: Δ export volume ÷ absolute value of Δ domestic volume, year on year, same period, computed only where domestic volume declined. Domestic volume: total sales less exports, as the company does not report a domestic line directly. Revenue per vehicle: period revenue ÷ period units. Q2 2026 gross margin: (H1 revenue × H1 margin − Q1 revenue × Q1 margin) ÷ (H1 revenue − Q1 revenue). Required run-rate: (annual target − year-to-date actual) ÷ remaining months.
Basis notes. Company export figures (690,985 for eight months) and CPCA passenger vehicle export figures (688,051) differ by 2,934 units because CPCA counts passenger vehicles on a wholesale basis while the company reports total vehicle exports; the two are not interchangeable and are never mixed within a single calculation here. In the Geely–BYD index comparison, both groups are measured on total group vehicle volume; BYD’s total consists entirely of new energy vehicles, while Geely’s includes internal combustion models.
About This Dataset
geely-sales-statistics.csv contains every figure cited on this page — 314 observations in long format, one row per observation, each carrying its metric, value, unit, as-of date, source organisation, source document, URL, retrieval date, whether the source is primary, and whether the value was calculated by Axis Intelligence Research. Rows marked axis_calculated = yes carry a method note pointing to the formula published in the Methodology section above.
Licence: CC BY 4.0. Free to use, republish and redistribute with attribution. Citation line: Axis Intelligence Research, Geely Sales Statistics 2026, 2026.
Cite this page
APA — Axis Intelligence Research. (2026). Geely sales statistics 2026: Exports, NEV mix, Zeekr, Galaxy, revenue and margins. Axis Intelligence. https://axis-intelligence.com/geely-sales-statistics/
MLA — Axis Intelligence Research. “Geely Sales Statistics 2026: Exports, NEV Mix, Zeekr, Galaxy, Revenue & Margins.” Axis Intelligence, 20 Sept. 2026, axis-intelligence.com/geely-sales-statistics/.
Chicago — Axis Intelligence Research. “Geely Sales Statistics 2026: Exports, NEV Mix, Zeekr, Galaxy, Revenue & Margins.” Axis Intelligence, September 20, 2026. https://axis-intelligence.com/geely-sales-statistics/.
Frequently Asked Questions
Is Geely actually growing, or is it exporting its way out of a domestic decline?
Both, and the ratio is measurable. Group volume rose 2.4% in the first eight months of 2026, but domestic Chinese sales fell 389,273 units while exports rose 435,522. Axis Intelligence Research’s Export Substitution Index reading of 1.12 means exports covered 112% of the domestic shortfall. Geely is growing, on borrowed geography.
How much of Geely’s volume is electric in 2026?
New energy vehicles were 58.4% of Geely’s volume in January–August 2026, up from 52.9% a year earlier, reaching 65.1% in August. Battery-electric volume was 687,371 units and plug-in hybrids 448,125. Notably, BEV volume for the period is down 1.0% year on year — PHEVs delivered all of the NEV growth.
Which Geely brand is carrying the group right now?
Zeekr. Deliveries doubled to 251,188 units in the first eight months, taking the brand from 6.6% to 12.9% of group volume. Geely Galaxy, the 2025 growth engine, is 1.0% below its own prior-year pace at 746,705 units. Lynk & Co fell 15% to 177,624 and was the only brand down in August.
What happened to Zeekr’s NYSE listing?
Geely Auto completed the privatization of Zeekr on December 22, 2025, acquiring the shares it did not already hold and taking its stake from about 65.7% to 100%. Zeekr’s American Depositary Shares ceased trading and the brand now sits inside Zeekr Technology Group alongside Lynk & Co, reporting only through Geely Automobile Holdings. Brand-level detail sits on the dedicated Zeekr deliveries and revenue page.
Can Geely reach 3.45 million vehicles and 2.22 million NEVs in 2026?
On current run-rates, no. Geely needs 376,672 units a month from September to December to hit 3.45 million — 39% above its August record of 270,194 — and 271,126 NEVs a month to hit 2.22 million, 54% above August. Its best month ever, November 2025, was 310,428 units.
Why did Geely’s net profit fall when core profit rose 46%?
Currency. Reported first-half net profit was RMB 9.09 billion, down 2%, against core profit attributable to owners of RMB 9.68 billion, up 46%. The gap is a net foreign-exchange loss this half compared with a substantial net FX gain in the prior-year half. The underlying operating result improved; the reported line absorbed the swing.
How does Geely’s export surge compare with BYD’s?
BYD added more absolute overseas volume — 536,444 incremental units against Geely’s 435,522 — but its domestic decline of 732,305 units was nearly twice as deep. BYD’s Export Substitution Index reads 0.73 against Geely’s 1.12, which is why BYD’s group volume fell 6.8% over the period while Geely’s rose 2.4%.
Is Geely’s margin improvement sustainable while domestic volume falls?
The mechanism is mix, not price discipline alone: Zeekr doubling and export volume at higher realised prices lifted revenue per vehicle from RMB 114,131 in 2025 to RMB 122,001 in the first half of 2026. Axis Intelligence Research estimates second-quarter gross margin at 18.3%, above the first quarter’s 17.5%, so the expansion was still compounding into mid-year.
What is the difference between Geely Auto and Zhejiang Geely Holding Group?
Geely Automobile Holdings (HKEX: 0175) is the listed arm — Geely, Galaxy, Radar, Zeekr and Lynk & Co — and sold 3,024,567 vehicles in 2025. Zhejiang Geely Holding Group is the unlisted parent, adding Volvo Cars, Polestar, Lotus, Proton, smart and Farizon, and sold 4.12 million. Most misquoted Geely statistics conflate the two.
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