- Geely Auto reported a net income of RMB 3.82 billion ($538 million) for the third quarter, marking a 59 percent year-on-year increase.
- Geely delivered a record 761,009 vehicles in the third quarter, a 42.52 percent year-on-year increase.
Geely Auto (HKG: 0175) released robust third-quarter financial results, driven by significant sales growth.
The automaker's net income attributable to shareholders of the parent company reached RMB 3.82 billion ($538 million) in the third quarter, a 59 percent year-on-year increase, according to a Hong Kong Stock Exchange filing today.
Geely's third-quarter revenue reached a record RMB 89.2 billion, up 27 percent year-on-year.
Geely sold a record 761,009 vehicles in the third quarter, representing a 42.52 percent year-on-year increase and a 7.89 percent rise from the second quarter, according to data compiled by CnEVPost.
In the first three quarters, Geely sold 2,170,189 vehicles, a 45.68 percent increase year-on-year.
This resulted in revenue of RMB 239.5 billion for the first three quarters, a 26 percent year-on-year increase. Net income for the first three quarters was RMB 131.1 billion, a 1 percent decrease year-on-year.
Geely sold a record 307,133 vehicles in October, bringing its January-October deliveries to 2,477,322 units -- 82.6 percent of its annual 3 million unit target.
The automaker said that its intensive new product launches in the fourth quarter will drive achievement of the three million annual sales goal.
Geely's robust growth was primarily driven by its Geely Galaxy sub-brand, which sold 127,476 units in October -- marking its third consecutive month of record sales and a 100.77 percent year-on-year increase.
From January to October, Geely Galaxy sold 1,002,461 vehicles, surpassing its annual sales target of 1 million units ahead of schedule with a 186.61 percent year-on-year growth.
($1 = RMB 7.1050)
