Geely Auto has raised its full-year export target to 920,000 vehicles from 640,000, betting that overseas demand will help offset weaker sales in China. The company said at its interim results briefing on Monday that it now also aims to reach an overseas sales scale of 1,000,000 vehicles.
The revised export target is nearly 120% higher than the 420,097 vehicles Geely Auto said it exported in 2025, underscoring management’s confidence in its international momentum. In its earnings materials, the automaker identified five key regions for the second half of the year. ASEAN was listed as a 300,000-vehicle market, while Pan-Europe, Eastern Europe, and Latin America and Africa were each designated as 200,000-vehicle markets. The Middle East and Asia-Pacific were designated as a 100,000-vehicle market.
Exports have been the company’s main growth driver this year. Geely Auto exported 474,228 vehicles in the first half, up 157.6% from a year earlier, and monthly exports exceeded 100,000 vehicles for the first time in June. In July, exports reached a record 106,663 vehicles, up 202% year on year. Cumulative exports in the first seven months totaled 580,891 vehicles, a 164.8% increase.
New energy vehicles accounted for most of the export growth. Geely Auto exported 62,604 NEVs in July, up 616% year on year, representing 59% of total exports.
The domestic market remained under pressure. China sales fell 22.6% in the first half to 948,730 vehicles and declined 29.1% year on year in July. Total sales in the first seven months reached 1,673,119 vehicles, up just 1.6% and equal to 48% of the company’s full-year target of 3,450,000 vehicles.
Geely Auto’s financial results improved on the stronger export mix. First-half revenue rose 15% year on year to a record 173.6 billion yuan, while core net profit attributable to shareholders increased 46% to 9.68 billion yuan. Net profit attributable to shareholders fell 2% to 9.09 billion yuan.
The company also remains behind BYD in overseas markets. Geely Auto’s export target increase comes as founder Eric Li is set to step down as chairman on August 18, with Andy An taking over the role. The first locally assembled V8E all-electric logistics vehicle also rolled off the line on August 13 at Geely Farizon’s first overseas plant in Indonesia.
Source: CnEVPost
