Geely 2018 net profit growth of 18.1%, new energy and overseas markets will become a strategic priority.

On March 21, Geely Motor released its 2018 results. Results show that the company's full-year revenue of about 106.6 billion yuan, up 14.9% year-on-year; Net profit reached RMB 12.55 billion yuan, up 18.1% year-on-year. It is noteworthy that in 2018, China's passenger car market performance showed a weak state, the overall market sales decreased by about 4%. But Geely delivered 1,501,000 vehicles, up 20 per cent from a year earlier, and its market share rose to 6.3 per cent from 5 per cent in 2017. As for sales growth, Geely said it continued to increase its market share in 2018 and consolidate its position as the largest self-owned carmaker by sales, based on good sales of its A-class sedan models and sports utility vehicles (SUV). But Geely Motor also said sales in 2018 were 5 per cent below its target of 1.58 m vehicles set at the beginning of 2018 because of weakening demand in the Chinese passenger car market in the second half of 2018. For 2019, Geely has set a full-year sales target of 1.51 million vehicles, roughly the same as the 1.5 million vehicles sold in 2018. In addition, Geely said in its earnings report that it will introduce more new energy and electric vehicle products in 2019 to significantly increase the share of sales of new energy and electric vehicles. Geely will introduce more than 30 pure electric and new-energy models in the next two years, including all-electric sedan Geometry A models. Meanwhile, in 2019, Geely's LinkedIn will also take the lead in overseas markets, with its first offline store opening in Amsterdam and the LinkedIn 01 PHEV expected to be officially sold in Europe in 2020. But it is worth noting that Geely sold 214,900 vehicles in January-February 2019, down about 9 per cent from a year earlier. In the cold environment of the car market, it is worth looking forward to whether the new energy and overseas strategy can boost corporate profits to continue to rise.