 |
| Geely's premium Emgrand brand sold 20,318 units in January, about a third of the carmaker's monthly total. Chen Xiaogen / For China Daily |
After reporting a surge in sales for January, Hong Kong-listed carmaker Geely Automobile saw its stock price hit a 52-week record high last Friday.
Geely's stock price increased by 7.66 percent to close at HK$4.64 ($0.6) on Feb 15 after reaching a high point of HK$4.67 earlier in the day.
The sharp increase followed the company's January sales announcement made the day before.
Geely said on Feb 14 that its January sales reached an all-time record high of 63,532 vehicles, a 67 percent increase from a year earlier and 7 percent up from December.
The carmaker's domestic sales last month surpassed 55,000 units while its overseas deliveries reached more than 8,400 units, the company said.
Geely's high-end brand Emgrand sold 20,318 units, about a third of its total January sales, while its Gleagle brand sold 22,482 cars and its Englon nameplate sold 20,732.
Geely's January sales growth exceeded the industry average and its three sub-brands had well-balanced performance, said Simon Feng, an auto analyst with Menutor Consulting.
Last month China's overall passenger vehicle market increased 48.7 percent from a year ago to 1.73 million units, according to statistics from China Association of Automobile Manufacturers. The strong industry-wide growth was mainly the result of fewer working days in January last year because of the lunar Chinese New Year holidays were earlier.
Another high point in Geely's January report is that its SUVs surpassed expectations with combined sales of the Gleagle GX7 and Englon SX7 reaching more than 7,300 units, Feng said.
Feedback
RSS
