Geely

Geely is a Chinese carmaker which sells cars under the brands Emgrand, Englon, Geely, Gleagle and Volvo, which it acquired from Ford Motor in 2010 for US$1.8 billion. A Geely unit is listed on the Stock Exchange of Hong Kong.

Carmaker Geely reports 46pc fall in profit as Russian woes bite

Geely sold 417,851 vehicles last year. Photo: Reuters

Mainland carmaker Geely Automobile posted a 46 per cent fall in profit last year, dragged down by lacklustre exports and losses on operations in Russia, but the company sees a better year ahead, with domestic sales expected to pick up.

Thursday, 7 May, 2015, 1:03pm

BYD and Geely record strong profit growth

Geely's aims for a conservative 5.6 percent growth in sales this year. Photo: Reuters

BYD yesterday said net profit soared 579 per cent last year to 553.09 million yuan (HK$692.8 million) following improved performances in its car, phone components and battery businesses.

Turnover rose 12.1 per cent to 49.77 billion yuan.

7 May 2015 - 1:03pm

Tensions rise over Volvo's identity under China's Geely, sources say

The XC Coupe concept car incorporates some of the new pizzazz sought by Volvo chairman Li Shufu. Photo: EPA

The strategic path Volvo Car plans to follow is in question because of discord at the board level between new Chinese ownership and traditional European ways, according to two people familiar with the situation.

7 May 2015 - 2:35pm

Volvo returns to 'safety first' marketing strategy

Volvo sells nearly as many cars in China as it does in the United States. Photo: AP

Volvo has realised that safe is better than sexy.

After several years adrift, as it changed owners and flirted with sexier advertisements, the Swedish carmaker is in the midst of a US$11 billion turnaround plan that it hopes will nearly double worldwide sales to 800,000 by 2020.

7 May 2015 - 2:35pm

Culture clash as Chinese chief seeks to 'Pimp my Volvo'

Li Shufu

Safe, solid and understated in a Swedish way, or a wannabe luxury brand pandering to a Chinese taste for excess and ‘bling’: that’s the debate causing ripples at the top of Volvo Car Corp, under Chinese ownership since 2010.

11 Sep 2013 - 4:16am

Geely first-half profit rises 37pc as both domestic sales and exports jump

Geely Automobile plans to set up assembly plants in emerging markets in South America and Eastern Europe. Photo: Bloomberg

Net profit for the six months to June rose 37 per cent to 1.4 billion yuan, the company said in a statement filed with the Hong Kong stock exchange. Analysts had been expecting 20 per cent profit growth.

23 Aug 2013 - 1:50am

Volvo factory to compete with China rivals

Volvo posted a loss last year as global sales fell 6.1 per cent to 421,951 vehicles. In China, sales dropped 11 per cent. Photo: Reuters

Three years after buying Volvo Cars, mainland tycoon Li Shufu may get to compete with BMW and Volkswagen's Audi on a more level playing field in his own country.

7 May 2015 - 2:35pm

Electric vehicles: Geely revs up, BYD drives into Hong Kong

Hong Kong saw its first electric taxis hit the streets on Saturday in a step towards reducing the city’s high levels of roadside pollution. Photo: SCMP

New moves by Geely and BYD indicate the EV space is gaining momentum among China's domestic automakers, providing a psychological boost for the sector

21 May 2013 - 9:03am

Geely roars past its sales growth target

Geely is keen to speed up export growth over fears that a cap on new car registrations on the mainland may be widened. Photo: Xinhua

Sales at mainland carmaker Geely Automobile in the first four months of this year are already well ahead of its target growth rate, the company said, and it predicted a strong second half as long as the government did not further limit new car sales.

17 May 2013 - 6:28am

Chinese cars end up sidetracked in emerging markets

It’s nice, but is it art? A Mercedes AMG SLS sport car on display at the Art Beijing Expo earlier this month. Foreign car brands in China have a cachet that local companies have failed to match. Photo: EPA

A funny thing happened on the way to China’s drive to build a world-beating auto industry: It got sidetracked.

Instead of Chinese cars finding a ready market among its newly affluent people, and then establishing itself in developed markets where Japan and South Korean car makers have already blazed a trail, China’s auto-sector may be stuck in a blind alley.

16 May 2013 - 11:04am

Chinese carmakers still stuck in slow lane on R&D

Chinese carmakers still stuck in slow lane on R&D

Brilliance Auto - one of the most profitable Chinese carmakers and a joint-venture partner with BMW - invested just five million yuan (HK$6.27 million), or 60 yuan per vehicle, to develop its own minibus last year, based on the firm's documents.

11 Apr 2013 - 5:07am

Carmakers gain as bird flu fears hit public transport

Workers check components at an assembly line at Geely Auto Ningbo factory in Zhejiang Province. Chinese automakers are expected to benefit from a shift to private transport triggered by bird flu. Photo: Xinhua

Bird flu worries are continuing to reverberate through the mainland's stock markets, with carmakers' shares now rising on expectations that more people will use private cars rather than risk exposure to H7N9 by using public transport.

10 Apr 2013 - 5:52am

Geely profit rises 32pc as domestic sales, exports surge

An assembly line at Geely Auto's Ningbo factory in Zhejiang province. Photo: Xinhua

Chinese carmaker Geely said on Wednesday its last year net profit jumped 32 per cent, helped by recovering domestic sales and strong growth in exports. The owner of Swedish nameplate Volvo, Geely said its net profit for the year ended December 31, last year was 2.04 billion yuan (US$328 million), up from 2011’s 1.54 billion yuan, in a filing to the Hong Kong stock exchange where it is listed.

7 May 2015 - 1:03pm

Forecasts drive up car bond sales

Geely is helping drive up debt issuance this year. Photo: Xinhua

Guangzhou Automobile Industry Group, Zhejiang Geely and Wanxiang Qianchao are among companies that have sold 8.2 billion yuan (HK$10.1 billion) of debt so far this year, compared with 2.5 billion yuan a year earlier, according to data compiled by Bloomberg. Overall corporate bond sales rose 21 per cent to 399 billion yuan.

7 May 2015 - 2:35pm

China's Geely and Sweden's Volvo to join hands on vehicle research work

Geely Chairman Li Shufu. Photo: Xinhua

Geely is to build a research centre with Volvo Cars in Volvo's home country, Sweden, the first time a mainland carmaker has moved its research and development work overseas.

21 Feb 2013 - 6:07am

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