Investment Summary
Wholesale Sales Volume Stopped Falling in October yoy
In October, the wholesale sales volume of Geely reached 130,000 units, up 1% yoy. The overseas sales volume of the sub-market was 2,986 units, up 123% yoy; the domestic sales volume was 127,000, down 0.4% yoy, a sharp decrease compared with 9% last month. From January to October this year, the total sales volume of Geely was 1,088,290, down 14% from 1,265,844 units in the same period last year, reaching 80% of the annual sales target of 1.36 million units. In view of this year’s peak season ahead of schedule and the usual year-end sales promotion of the car companies, we believe that the company is quite sure to achieve the annual goal.
Compared with the previous month, sales volume of Geely in October continued the recovery trend since June, up 14% mom. Among them, overseas sales rose 11% mom, while domestic sales rose 14% mom.